Power Corporation of Canada, Great-West Lifeco Inc. and IGM Financial Inc. have announced a combined US$150-million investment in the newly established Sagard AI Fund LP, a closed-end investment vehicle focused on artificial intelligence companies accelerating AI adoption across financial services and other sectors globally.

The companies said the investment is part of a broader strategy across the Power group to engage “early and meaningfully” with AI as a foundational technology supporting long-term growth, productivity gains, talent development and enhanced client and advisor experiences.

The fund is intended to provide access to global AI market intelligence, commercial partnership opportunities, pilot initiatives and additional investment prospects in companies aligned with the group’s strategic priorities.

“AI is increasingly expected to play a transformational role across insurance, wealth management, asset management, and retirement services,” the companies said in the release.

Leveraging the expertise of Sagard, the fund is designed to combine capital deployment with active engagement, giving the Power group early exposure to AI-focused companies while supporting the integration of AI capabilities into operating businesses.

The companies said they expect AI to improve decision-making, operational efficiency and the delivery of financial advice and solutions over time.

Power Corporation is an international management and holding company focused on financial services in North America, Europe and Asia, with holdings in insurance, retirement, wealth management and alternative asset investment platforms.

Great-West Lifeco is a financial services holding company operating in Canada, the United States and Europe through brands including Empower, Canada Life and Irish Life, serving approximately 40 million customer relationships.

IGM Financial is a Canadian diversified wealth and asset management organization with approximately $326 billion in assets under management and advisement as of April 30, 2026, operating primarily through IG Wealth Management and Mackenzie Investments.

Sagard is a global multi-strategy alternative asset management firm with more than US$46 billion in assets under management across venture capital, private equity, private credit and real estate.

Photo: Great West