Abu Dhabi investment firm ADQ buys stake in $14.5b US venture capital firm Sagard, along with Bank of Montreal

Abu Dhabi investment firm ADQ buys stake in $14.5b US venture capital firm Sagard, along with Bank of Montreal

Dubai: One of Abu Dhabi’s biggest investment entities, ADQ, will take a stake in Sagard, which has $14.5 billion as assets under management and as many as 300 portfolio companies. Joining in with ADQ is Bank of Montreal, which is the eighth largest bank in North America in terms of assets. The deal making in Sagard will also see an existing shareholder, Great-West Lifeco, raise its stake further. “ADQ, BMO and GWL have agreed to invest capital to drive Sagard’s future growth, including through M&A transactions,” said a statement. Abu Dhabi investment powerhouses ADQ and Mubadala continue to make headway in raising their profile overseas. The movement has also seen the likes of the UAE telecom holding company e& become the biggest shareholder in UK's Vodafone and more recently entering an alliance with Czech group PPF for possible forays into European markets. These entities have ‘agreed with Sagard to make respective commitments of additional long-term capital’ to its existing and future investment strategies, ‘strengthening fundraising potential and accelerating the firm’s ability to launch new products’. “Sagard’s entrepreneurial ability to mobilize investment talent, launch new differentiated strategies and deliver concrete results has attracted us to partner with them,” said Murtaza Hussain,