Power Corp.’s asset management arm ultimately wants to raise US$2 billion for its third credit fund, well above the US$1.17 billion it raised for the second fund in June 2022. The new fund has already invested US$135 million. (The Logic)

Talking point: Despite wobbling confidence in the U.S. private credit market, Canadian funds continue to back the industry, and Montreal-based Sagard was able to get 16 institutional limited partners behind its fund. High-profile bankruptcies at Tricolor and First Brands last year caused some investors to worry about lending standards to smaller borrowers, and firms like Blue Owl have since seen clients pull money out of private credit investments. Sagard’s fund plans to take a “highly selective” approach, chief investment officer Adam Vigna said in a release, and will focus on lending to mid-market businesses with which it has long-standing relationships.