Sagard Holdings launches Portage Ventures III – updated

CPE News (4/6/2021) – Sagard Holdings Management Inc. has launched Portage Ventures III fund, the successor fund to Portag3 II which closed at CDN $427 million in 2019.

Portag3 I was launched in 2016 as the corporate investment arm of Power Financial Corporation (TSX: PWF), IGM Financial Inc. (TSX: IGM) and Great-West Lifeco Inc. (TSX: GWO).

Ventures III will continue to be led by Adam Felesky and Paul Desmarais III. The fund has recently held an initial close securing undisclosed amount in capital commitments by the main fund and US $50 million by the international parallel fund.

Portage III is not the only Sagard or Sagard affiliated new fund held closing recently.

Diagram Opportunity Fund I, a new fund led by François Lafortune and Paul Desmarais III, has reportedly held a CDN $60 million initial close.

A member of the Power Corporation of Canada group of companies, Sagard Holdings is a multi-strategy alternative asset manager with professionals located in Montreal, Toronto, New York, Paris, San Francisco, and Singapore.

EDIT: Diagram funds are affiliate with Sagard, not part of Sagard “ecosystem.”