Key Takeaways
- • Sagard, the alternative asset management firm within Power Corporation of Canada, has launched a new US$150-million AI fund with combined backing from Power Corp., Great-West Lifeco, and IGM Financial.
- • Evan Kerr, a former investor at Georgian Partners, has been appointed General Partner to lead the global AI fund, which will invest across the artificial intelligence technology stack.
- • The fund targets companies accelerating AI adoption across financial services and other sectors, providing the Power group early access to emerging AI technologies and strategic insights applicable across its insurance, wealth management, and financial services operations.
- • Sagard operates as a multi-strategy alternative asset management platform active in venture capital, private equity, private credit, and real estate, positioning the AI fund as an extension of its diversified investment mandate.
Summary
Sagard, the alternative asset management division of Power Corporation of Canada, has established a new US$150-million AI-focused investment fund, marking a strategic expansion into artificial intelligence venture investing. The announcement on May 20, 2026, represents a coordinated commitment from Power Corp.'s major subsidiaries, with Great-West Lifeco and IGM Financial jointly contributing to the fund's capitalization alongside the parent company.
Evan Kerr, previously an investor at Georgian Partners, will serve as General Partner of the newly established Sagard AI Fund LP. His appointment reflects Sagard's effort to bring specialized AI investment expertise to the fund's management. The fund will operate as a global vehicle targeting companies across the AI stack—encompassing infrastructure, applications, and supporting technologies—with a particular emphasis on enterprises driving AI adoption in financial services alongside other sectors.
The fund structure provides the Power Corporation group with strategic advantages beyond traditional financial returns. According to the fund's stated objectives, the investment vehicle will grant Power Corp., Great-West Lifeco, and IGM Financial early access to emerging AI technologies and market intelligence that can be integrated across the group's insurance, wealth management, and financial services operations. This strategic positioning allows the conglomerate to remain competitive in an AI-driven financial services landscape while building optionality around transformative technologies.
Sagard's establishment of the dedicated AI fund reinforces its position as a diversified alternative asset manager. The firm maintains active investment operations across venture capital, private equity, private credit, and real estate, with the AI fund representing a focused thematic play within its broader venture capital platform.
Evan Kerr, previously an investor at Georgian Partners, will serve as General Partner of the newly established Sagard AI Fund LP. His appointment reflects Sagard's effort to bring specialized AI investment expertise to the fund's management. The fund will operate as a global vehicle targeting companies across the AI stack—encompassing infrastructure, applications, and supporting technologies—with a particular emphasis on enterprises driving AI adoption in financial services alongside other sectors.
The fund structure provides the Power Corporation group with strategic advantages beyond traditional financial returns. According to the fund's stated objectives, the investment vehicle will grant Power Corp., Great-West Lifeco, and IGM Financial early access to emerging AI technologies and market intelligence that can be integrated across the group's insurance, wealth management, and financial services operations. This strategic positioning allows the conglomerate to remain competitive in an AI-driven financial services landscape while building optionality around transformative technologies.
Sagard's establishment of the dedicated AI fund reinforces its position as a diversified alternative asset manager. The firm maintains active investment operations across venture capital, private equity, private credit, and real estate, with the AI fund representing a focused thematic play within its broader venture capital platform.
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