Canadian institutional investor Sagard has opened an office in Dubai.

The office is Sagard’s first in the Persian Gulf region and adds to the Montreal-based global asset manager’s ongoing international expansion program. 

The opening comes after Abu Dhabi sovereign-wealth fund ADQ acquired a stake in Sagard in July 2023. The Bank of Montreal also bought a stake in Sagard at that time.

Firas Mallah was appointed managing director of the new Sagard office and head of the company’s Middle East region. From 2011 to 2017, he served as BMO Global Asset Management’s managing director for the Middle East and North Africa.

The Abu Dhabi office opening comes as Canadian institution investors are showing strong appetite for international activities. The Healthcare of Ontario Pension Plan intends to open an office in London.

Also, Toronto-based Brookfield Asset Management and French lender Societe Generale recently announced plans to launch a $14.6-billion private debt fund.

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