Skip to content Skip to Search
Skip navigation

Sagard Holdings targets growth from UAE office

By Pramod Kumar
The Sagard office, located in the Abu Dhabi Global Market, will be led by former Bank of Montreal executive Firas Mallah Sagard Holdings
The Sagard office, located in the Abu Dhabi Global Market, will be led by former Bank of Montreal executive Firas Mallah

Sagard Holdings, a Canada-based alternative asset manager with $14.5 billion under management, has opened its first office in the Gulf region in Abu Dhabi as part of its ongoing international expansion strategy.

The new office, located in the Abu Dhabi Global Market (ADGM) – an international financial centre – will be led by former Bank of Montreal executive Firas Mallah, who has more than two decades of experience and Middle East fundraising expertise.

Mallah will be responsible for developing the asset management company’s investor base, building its ecosystem and creating foundational partnerships, including its portfolio companies.

Paul Desmarais III, chairman and CEO of Sagard, described the opening of the UAE office as an “important milestone” for the company.

In July, Abu Dhabi state holding company ADQ and Canada’s Bank of Montreal acquired minority equity stakes in Sagard, which invests in venture capital, private equity and real estate, among others, through its portfolio of 125 companies.

Earlier this month Brevan Howard, a global alternative investment manager with more than $33 billion in assets under management, appointed its first Middle East-based CEO.

Oualid Lahsini was appointed six months after the Jersey-based company announced opening an office in ADGM.

New research from Strategy& shows the asset management market in the GCC is projected to reach nearly $500 billion in onshore assets by 2026, a leap from $400 billion at the end of 2022.

Latest articles

Sainsbury's has the second-largest share of the UK grocery market, at 15 percent, behind Tesco at 28 percent

Qatar to reduce stake in UK supermarket Sainsbury’s

Qatar’s sovereign wealth fund is selling part of its 15 percent stake in the British supermarket Sainsbury’s as the fund pushes ahead with expansion in the United States and Asia, particularly China and India. Qatar Investment Authority (QIA), the biggest shareholder in Sainsbury’s, is selling £306 million ($399 million) worth of shares in the retailer, […]

Shoppers in Kuwait's Avenues Mall – the IMF says the country needs to encourage private sector employment

Kuwait needs to push reforms for economic growth, says IMF

Kuwait must accelerate the introduction of fiscal and structural reforms that are needed to increase private sector-led growth and diversify its economy away from hydrocarbons, the International Monetary Fund said on Friday. Kuwait’s economy will contract by 3.2 percent this year because of an Opec+ oil production cut, but will grow by 2.8 percent in 2025 […]

Thani Al Zeyoudi, Minister of State for Foreign Trade of the United Arab Emirates, (UAE) speaks during the Skybridge Capital SALT New York 2021 conference in New York City, U.S., September 15, 2021. REUTERS/Brendan McDermid Dr Thani bin Ahmed Al Zeyoudi, the UAE’s minister of state for foreign trade, said 'Malaysia offers substantial opportunity for our exporters, industrialists and business leaders' UAE Malaysia Cepa

UAE and Malaysia sign Cepa to increase bilateral trade

The UAE and Malaysia have signed a free trade deal, bringing the number of deals the Gulf state has agreed with foreign governments to 12. The comprehensive economic partnership agreement (Cepa) will seek to eliminate or reduce tariffs, lower trade barriers, increase private sector collaboration and create new investment opportunities, the two countries said in a […]

Modern buildings in the city center of Riyadh, Saudi Arabia

Riyadh leads Saudi Arabia’s hot property market

Strong population and employment growth in Riyadh is driving a surge in real estate transactions as new properties cannot come on the market fast enough. A dramatic rise in the number of deals in the 12 months to the end of June was also visible in Jeddah and Dammam, according to a report this week […]