Robert W Baird & Co has acquired a minority stake in Canadian alternative asset manager Sagard Holdings Inc, becoming the firm’s first US institutional investor in the process, according to a report by Bloomberg.
The deal also establishes a distribution partnership for Sagard’s private funds in the US market.
Sagard, controlled by Canada’s Desmarais family, has doubled assets under management to $32bn over the past two years, spanning private equity, private credit, venture capital, and real estate. Baird joins existing investors including Abu Dhabi’s sovereign wealth fund and Bank of Montreal.
The partnership will see Baird distribute Sagard’s private equity and credit funds, which feature liquidity mechanisms aimed at broadening access to retail investors. Sagard has already invested in Wealthsimple, one of Canada’s leading fintech startups, and recently partnered with Empower to offer private market products in US retirement plans.
According to Baird CEO Steve Booth, the tie-up “gives us important exposure to the continued growth of alternative assets,” while Sagard CEO Paul Desmarais III said it highlighted the opportunity to expand the firm’s US distribution amid increasing competition for shelf space.
