Sagard plans to acquire Unigestion’s private equity platform, the firms said last week. The combined platform will manage US$23 billion in assets to create a “global leader” in middle market private equity investment solutions.
The deal will bring alternative asset manager Sagard’s assets under management (AUM) to roughly US$44 billion, up from US$32 billion currently.
Unigestion, a European middle market private equity firm, currently has US$12.5 billion in AUM. Its non-private equity businesses are excluded from the transaction and Sagard’s other direct private equity strategies based in France and Canada will continue to be managed separately.
The firms say the new platform will offer enhanced geographical reach and product scope, delivering bespoke and scalable private equity solutions across primaries, secondaries and co-investments to institutional and high net worth investors.
“Unigestion, a firm with a long and successful history under the leadership of Bernard Sabrier, and a culture that is highly aligned with Sagard’s, brings deep investment expertise, strong investor relationships and formidable investment discipline,” said Paul Desmarais III, chairman and CEO of Sagard, in a release. “Unigestion’s track record of building deep client relationships by crafting customized private equity programs makes them a natural partner for Sagard as we take this next step toward becoming a global leader in the middle market.”
Bernard Sabrier, group chairman of Unigestion will join Sagard’s board as vice-chairman, and become chairman of the new private equity platform. Jonathan Tétrault, managing partner at Sagard, will become CEO of the platform.
The transaction is expected to close in early 2026, pending regulatory approvals.
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CPP Investments and Connecticut-based alternative investment firm Stone Point Capital have agreed to acquire a stake in Atlanta-based OneDigital from Onex Partners.
Onex, which first invested in the insurance brokerage, financial services and workforce consulting firm in 2020, will remain a significant minority owner.
The transaction values OneDigital at over US$7 billion, and the firm says it will support its continued growth through organic expansion and strategic acquisitions. OneDigital acquired Montreal-based PWL Capital earlier this year and has signalled its interest in further growth in Canada.
“This commitment from Stone Point Capital and CPP Investments represents two high-quality investors aligning behind a single platform that integrates across a multitude of verticals,” said Adam Bruckman, president and CEO of OneDigital. “This partnership gives us the fuel to keep building — investing in both people and technology, while sharpening our capabilities and showing up even stronger for our clients.”
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La Caisse de dépôtet placement du Québec has entrusted $250 million to Montreal-based Pembroke Management.
The Quebec pension fund (formerly CDPQ), aims to more than double the amounts entrusted to various Quebec fund managers to $8 billion by 2028, and reach $100 billion in investments overall in the province by 2026.
“Contributing to Quebec’s financial ecosystem is an integral part of our strategy. With this in mind, we are calling on Quebec-based management firms to support us in diversifying our portfolio, complementing the work of La Caisse’s teams,” said Vincent Delisle, executive vice-president and head of liquid markets at La Caisse.
Delisle added La Caisse is aiming to maximize the performance of its portfolio while stimulating the growth of the asset management industry in Quebec. La Caisse is making the investment through Pembroke’s concentrated strategy, which consists of a selection of approximately 15 to 20 high-quality growth companies, primarily located in North America, focused on small- and mid-cap public equities.
La Caisse also recently announced an investment of A$200 million in a diversified agricultural platform to generate high-quality Australian carbon credit units with Australia’s specialist climate investor CEFC.
CEFC will contribute A$50 million, and Rio Tinto has signed on to buy a portion of future production. The Meldora platform will be managed by Australian agriculture and natural capital asset manager Gunn Agri Partners.
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Sagard’s U.S.-based real estate subsidiary has acquired an industrial facility in Houston under a new partnership established with Ontario Teachers’ Pension Plan.
The facility is located near the Port of Houston’s busiest container terminals, ensuring strong regional connectivity. Sagard Real Estate has US$5.2 billion in AUM.
The partnership is structured to ensure alignment between both firms through a flexible, institutional investment approach. It will focus on value-add industrial opportunities across major U.S. markets with an approach rooted in active asset management, strategic capital improvement and value creation.
“We are excited to partner with Ontario Teachers’ on this new U.S. industrial initiative,” said Mark Bigarel, COO and head of investments at Sagard Real Estate. “This relationship brings together two institutions with aligned values, a disciplined investment philosophy and a shared perspective on opportunity in the industrial sector.”
“As we look to expand in the U.S. industrial sector, this investment fits well with our long-term, global strategy,” said Karl Kreppner, senior managing director, real estate, Ontario Teachers’. “We also believe that, with the underlying market dynamics, this asset provides long-term growth potential.”
Ontario Teachers’ had net assets of $269.6 billion as of June 30.
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Connor, Clark & Lunn (CC&L) Infrastructure has closed more than US$200 million in debt financing across its portfolio of U.S. renewable power projects with a syndicate of international institutions, including CIBC, MUFG, Desjardins Group and SuMi TRUST.
The portfolio, acquired in 2021, represents more than 560 megawatts of installed capacity, CC&L said in a release.
In addition, the firm announced it has acquired a 49% interest in a portfolio of three operating Ontario-based wind projects totalling approximately 235 megawatts of gross capacity from NextEra Energy Resources, LLC. NextEra will retain a 51% ownership in the projects and will continue to manage and operate the assets going forward.
CC&L Infrastructure’s renewable energy portfolio has grown to nearly 2.4 gigawatts of gross capacity.
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Tetra Digital Group Inc. raised $10 million from Canadian fintechs and financial services providers in September. Participants included Urbana Corp., which invested $3.5 million and holds a majority equity interest in Tetra, as well as Wealthsimple, Purpose Unlimited, Shakepay, ATB Financial, National Bank and Shopify.
Tetra aims to launch Canada’s first fiat-backed stablecoin in 2026, using part of the proceeds from the financing, in partnership with its strategic investors. It plans to leverage its custody infrastructure to provide a digital currency backed 1-for-1 by Canadian dollar reserves.
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Stablecorp has raised approximately $5 million in a strategic financing round led by FTP Ventures. The Canadian fintech is aiming to scale its flagship product, QCAD, a digital currency backed 1:1 by Canadian dollar reserves, and its associated digital money infrastructure.
A previous fundraising round was led by Coinbase Ventures.
“This financing is a powerful validation of our vision to build the foundational rails for the future of finance in Canada,” said Fred Pye, founder of FTP Ventures, in a release.
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Accounting services firm MNP continues to grow, with two firm additions taking place in November. On Nov. 1, Vancouver-based Shaun Raymond U.S. Tax Services will join MNP, adding 12 staff members in total, including Shaun Raymond Mohammed. Since 2014, the firm has specialized in U.S. and Canadian Tax.
On Nov. 3, chartered professional accounting firm Tierney, Simpson & Prytula will become a part of MNP. Joe Van Niedek, a partner at the Kingston, Ont.-based firm, will join MNP as a partner, supported by eight existing team members.
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First Nations Bank of Canada (FNBC) has secured a $10-million equity investment from Lheidli T’enneh First Nation and Tano T’enneh Enterprises. The transaction, announced in August, gives the investors a combined 8.64% ownership stake (4.32% each) in Canada’s only Indigenous-owned chartered bank.
The financing follows a $9-million investment earlier the same month from five other Indigenous groups and communities across Canada. The bank aims to raise a total of $50 million in equity capital over the coming year.
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FMS Capital Trust has raised $54.2 million together with its sponsors Forum Asset Management Inc. and Make Space Inc.
The trust was established for the primary purpose of investing in a portfolio of Canadian income-producing self-storage properties with a focus on underserved and overlooked markets.