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The Montreal-based alternative asset manager raised the fund from Power Corporation of Canada—controlled by the wealthy Desmarais family, it is Sagard’s majority owner—as well as Power Corp. subsidiaries Great‑West Lifeco and IGM Financial. The fund will invest globally in companies facilitating AI adoption in financial services and other sectors. (The Logic)
Talking point: Sagard hired Evan Kerr from Georgian—which backs software companies using applied AI—to lead the fund. Investors touted the fund as a way to stay on top of AI as the sector quickly evolves. It aims to give Power Corp. and affiliated companies early access to innovative companies to invest in, as well as AI tools to integrate into their own operations.
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