Sagard is selling a 5% stake in the company to Groupe Bruxelles Lambert (GBL) in a deal valued at US$33 million.

The transaction, based on a pre-money equity valuation of US$600 million, is expected to close by the end of March. As part of the agreement, GBL will also commit additional capital to Sagard-managed strategies over the next five years.

Sagard is a global alternative-asset manager with about US$27 billion in assets under management, investing in real estate, venture capital, private equity, and private credit. The Montreal-based firm operates across Canada, the United States, Europe, and the Middle East.

Brussels-based GBL, a leading European investment holding company with a net asset value of €15.7 billion as of December 2024, has previously invested in Sagard’s midcap strategy, its NewGen fund focused on technology and healthcare, and Portage Capital Solutions, which targets later-stage fintech and financial services. By deepening its role as an anchor limited partner, GBL aims to expand its presence in alternative-asset management.

“This investment is a strong endorsement of our vision, strategy and progress to date,” said Paul Desmarais, chairman and CEO of Sagard. “With GBL’s support, we will accelerate our growth trajectory, enhance our investment capabilities, and strengthen our position as a leading alternative-asset manager.”

Sagard expects the partnership to enhance the company’s fundraising potential and support new investment offerings as the firm continues to expand its platform.