Sagard raises initial $325 mln for debt fund led by CPPIB alumni

Sagard Holdings, an investment arm of Power Corp, has raised about $325 million (US$260 million) in the first close of a debut credit fund managed by former members of Canada Pension Plan Investment Board’s private debt group. Sagard Credit Partners LP, earmarked for loans to North American mid-market companies, secured more than half of its $625 million (US$500 million) target in the initial close. It is expected to wrap up by the end of 2018, Sagard Managing Partner and CIO Adam Vigna told PE Hub Canada. SCP, Sagard’s first fund marketed to third-party investors, was anchored by Canadian limited partners.

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