Canadian asset manager will take a significant leap forward with ambitions
Canadian asset manager Sagard is to take a strategic stake in French secondaries investment firm BEX Capital.
The move marks a significant milestone for the $27 billion AUM Sagard into private market secondaries and adds deep expertise in fund-of-funds secondaries to the firm’s capabilities, enabling the creation of a scaled, diversified private markets offering.
"BEX has built a remarkable franchise in the secondaries market, with a loyal and diversified investor base and a strong track record of performance. By joining forces, we will enhance our ability to deliver innovative and high-performing secondaries solutions to institutional and private high-net-worth investors worldwide," said Paul Desmarais III, Chairman and CEO at Sagard.
The management team at the $2 billion AUM BEX will remain in control day-to-day and will independently manage investment activities, leveraging existing relationships while benefitting from the scale and resources of Sagard.
"This exciting partnership will enable us to scale our business while staying true to our core investment philosophy and privileged relationships with our investors and partners. By partnering with Sagard, we gain access to expanded resources, a broader investor network, and enhanced strategic capabilities. This will allow us to develop innovative secondaries solutions, while reinforcing our position as a specialist in the secondaries market," said Thomas Carbonel, Partner at BEX Capital.
The deal is expected to close in the coming weeks, subject to the usual approvals.
Earlier this year Sagard offered individual Canadian investors a new opportunity to invest in private equity thanks to a new fund as it broadened its offering in private markets.
