Canada-based asset manager Sagard is merging its PE unit with that of Swiss firm Unigestion to form a $23 billion mid-market PE platform, marking its latest expansion into the alternatives market.
The newly merged platform will comprise the firms’ PE primaries, secondaries and co-investment strategies. Unigestion’s non-PE businesses and Sagard’s other direct PE strategies based in France and Canada are excluded.
Founded in 1971, Unigestion currently manages $11 billion under its PE strategy across secondaries, direct investments, primaries, climate impact and evergreen and liquid vehicles.
It targets companies within seven investment themes, including climate transaction, resource efficiency, sustainable cities, services efficiency, future of work, personal well-being and healthcare re-engineering.
Bernard Sabrier, group chairman of Unigestion, will become chairman of the new PE platform, while Jonathan Tétrault, managing partner at Sagard, will take the CEO role.
After the deal, which is expected to close early next year, Sagard’s AUM will rise from $32 billion to $44 billion.
The transaction is the latest in a series of deals by Sagard aimed at expanding its market reach. Earlier in the month, it sold a minority equity stake to Wisconsin-based investment bank Baird Capital Group in a bid to enhance its reach to private wealth clients. It also agreed to acquire a strategic stake in BEX Capital in April to enhance its secondaries offerings.
Featured image by Jenna O’Malley/PitchBook News
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