ADQ and Bank of Montreal Acquire Minority Stakes in Sagard

The Abu Dhabi government-owned holding company (ADQ) and Canadian Bank of Montreal announced in a joint statement that they "intend to acquire minority stakes in Sagard, a global multi-strategy alternative asset management firm. The Canadian energy company will remain the controlling shareholder in Sagard." They added that as part of the deal, Canadian financial holding company Great-West Lifeco, which focuses on insurance, will increase its current minority stake, helping to drive Sagard's growth in the future, including mergers and acquisitions. Additionally, ADQ, Bank of Montreal, and Great-West Lifeco will each commit long-term additional capital for Sagard's current and future investment strategies, supporting fundraising prospects and accelerating the company’s ability to launch new products. The transaction is expected to be completed in the third quarter of this year.