Sagard, an alternative asset manager with over $27 billion of assets under management, announced that it has signed a definitive agreement to acquire a strategic stake in BEX Capital, a specialized secondaries investment firm with over $2 billion of assets under management.
This deal marks a significant step in Sagard’s expansion into private equity secondaries, enhancing its position as a leading provider of alternative investment solutions.
BEX Capital will bring expertise in fund-of-funds secondaries to Sagard’s existing offering in primaries, co-investments, and secondaries within the Sagard Private Equity Solutions platform.
This partnership will create a scaled, diversified private equity offering. And BEX’s expertise in acquiring secondary interests in fund-of-funds, secondary funds, and co-investment vehicles will complement Sagard’s existing private equity strategies, allowing for greater investment opportunities and broader investor reach.
BEX’s leadership team will continue to manage day-to-day operations, including investment activities, independently. This will ensure the continuity of the investment strategy and relationships with clients, fund-of-funds managers, and secondary fund managers while benefiting from Sagard’s global footprint and resources.
The deal is expected to close in the coming weeks, subject to regulatory approvals and customary closing conditions. And BEX Capital will be co-branded with Sagard to reflect its new strategic partnership.
KEY QUOTES:
“BEX has built a remarkable franchise in the secondaries market, with a loyal and diversified investor base and a strong track record of performance. By joining forces, we will enhance our ability to deliver innovative and high-performing secondaries solutions to institutional and private high-net-worth investors worldwide.”
– Paul Desmarais III, Chairman and CEO at Sagard
“BEX’s specialized approach and disciplined investment strategy complement Sagard’s broader private equity expertise, creating new opportunities for growth and innovation. We look forward to working together to deliver enhanced value to our investors and partners.”
– Jonathan Tetrault, Managing Partner at Sagard and CEO of Sagard Private Equity Solutions
“This exciting partnership will enable us to scale our business while staying true to our core investment philosophy and privileged relationships with our investors and partners. By partnering with Sagard, we gain access to expanded resources, a broader investor network, and enhanced strategic capabilities. This will allow us to develop innovative secondaries solutions, while reinforcing our position as a specialist in the secondaries market.”
– Thomas Carbonel, Partner at BEX Capital
