Key Takeaways
- • Sagard acquires Unigestion's private equity platform, creating a combined entity managing US$23 billion in private equity assets, increasing Sagard's total AUM from US$32 billion to approximately US$44 billion.
- • Unigestion contributes US$12.5 billion in AUM to the transaction; the deal excludes Unigestion's non-private equity businesses, while Sagard's existing direct private equity strategies in France and Canada remain separately managed.
- • Bernard Sabrier, group chairman of Unigestion, joins Sagard's board as vice-chairman and becomes chairman of the new private equity platform, while Jonathan Tétrault, managing partner at Sagard, assumes the CEO role of the combined entity.
- • The new platform will deliver enhanced geographical reach and product scope across primaries, secondaries, and co-investments to institutional and high net worth investors, positioning the combined firm as a "global leader" in middle market private equity solutions.
- • Transaction expected to close in early 2026, pending regulatory approvals, with integration formally underway as of the announcement in late September 2025.
Summary
Sagard has announced the acquisition of Unigestion's private equity platform in a strategic consolidation designed to establish a comprehensive global middle market private equity powerhouse. The transaction combines two established firms with complementary expertise and geographic footprints, creating a platform that will manage over US$23 billion in private equity assets and serve both institutional and high net worth investor bases.
The deal significantly expands Sagard's asset base. Sagard's total AUM will increase from US$32 billion to approximately US$44 billion following completion. Unigestion, a European-focused middle market private equity firm, currently manages US$12.5 billion in assets, all of which—except for its non-private equity businesses—will be integrated into the combined platform. Sagard's existing direct private equity strategies headquartered in France and Canada will continue to operate as separate entities, allowing for operational flexibility and specialized market focus.
The combined platform is structured to deliver comprehensive private equity solutions across three primary vectors: primary fund investments, secondary transactions, and co-investment opportunities. According to Paul Desmarais III, chairman and CEO of Sagard, the partnership reflects cultural and strategic alignment. "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." Desmarais highlighted Unigestion's capability in crafting customized private equity programs as a key strategic fit for Sagard's growth trajectory.
Leadership structure has been defined with an eye toward continuity and integration. Bernard Sabrier, who has led Unigestion, will join Sagard's board as vice-chairman and assume the chairmanship of the new private equity platform. Jonathan Tétrault, a managing partner at Sagard, will serve as CEO of the combined platform. This division of responsibilities preserves Unigestion's institutional knowledge while embedding the platform within Sagard's broader governance framework.
The transaction is anticipated to close in early 2026, contingent upon standard regulatory approvals. The integration represents a significant consolidation within the middle market private equity sector, expanding the combined firm's capacity to serve institutional capital and deliver customized investment solutions across multiple geographies and deal structures.
The deal significantly expands Sagard's asset base. Sagard's total AUM will increase from US$32 billion to approximately US$44 billion following completion. Unigestion, a European-focused middle market private equity firm, currently manages US$12.5 billion in assets, all of which—except for its non-private equity businesses—will be integrated into the combined platform. Sagard's existing direct private equity strategies headquartered in France and Canada will continue to operate as separate entities, allowing for operational flexibility and specialized market focus.
The combined platform is structured to deliver comprehensive private equity solutions across three primary vectors: primary fund investments, secondary transactions, and co-investment opportunities. According to Paul Desmarais III, chairman and CEO of Sagard, the partnership reflects cultural and strategic alignment. "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." Desmarais highlighted Unigestion's capability in crafting customized private equity programs as a key strategic fit for Sagard's growth trajectory.
Leadership structure has been defined with an eye toward continuity and integration. Bernard Sabrier, who has led Unigestion, will join Sagard's board as vice-chairman and assume the chairmanship of the new private equity platform. Jonathan Tétrault, a managing partner at Sagard, will serve as CEO of the combined platform. This division of responsibilities preserves Unigestion's institutional knowledge while embedding the platform within Sagard's broader governance framework.
The transaction is anticipated to close in early 2026, contingent upon standard regulatory approvals. The integration represents a significant consolidation within the middle market private equity sector, expanding the combined firm's capacity to serve institutional capital and deliver customized investment solutions across multiple geographies and deal structures.
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