The companies did not disclose the terms of the deal, but said in a release that Bex’s leadership team will continue to manage its day-to-day operations and investment activities. Bex will share branding with Sagard, the alternative investment arm of the Desmarais family’s Power Corp., and will benefit from the Montreal-based firm’s resources and investor network. (The Logic)

Talking point: Sagard said the deal is a “significant step” in its expansion into private equity secondaries, in which private equity investors sell their interests in assets or companies to secondary buyers. Bex specializes in such deals, making investments of US$5 million to US$1 billion that give private equity investors an option to cash out before maturity. Private equity has taken a hit from the U.S.-led global trade war, but Europe—home of Bex’s Nice, France headquarters—could be well-positioned to weather it, thanks to the EU’s ability to negotiate as a block.