Baird, a Milwaukee-based privately-held financial services firm, has taken a minority equity stake in Montreal-based alternative asset manager Sagard. As part of the deal, Baird will look to distribute Sagard’s products in its U.S. private wealth business.
Financial terms of the deal were not disclosed.
“This partnership with Baird is a pivotal step in our strategy to enter the U.S. wealth channel with an organization whose network and values closely complement our own,” Sagard CEO and Chairman Paul Desmarais III said in a statement. “It aligns with our goal of building a leading middle-market-focused investment firm, offering individual investors across the U.S. greater access to institutional-quality alternative investments as part of a broad partnership benefiting both firms.”
Baird’s private wealth business oversees $350 billion in client assets as of June 30, 2025.
“Partnering with Sagard strengthens our ability to deliver distinctive investment opportunities to our clients, and gives us important exposure to the continued growth of alternative assets,” Baird Chairman and CEO Steve Booth said in a statement. “Their consistency over time and innovative approach align well with our commitment to helping clients achieve their long-term financial goals.”
The firms also said they will team up to launch new U.S.-tailored strategies, supported by a wholesaling team and integrated using alternative investments platform CAIS.
The deal is the latest move by a major financial advisory firm to bolster its alts capabilities. Last week, Merrill Wealth Management and Bank of America Private Bank launched a new private market investment program for ultra-high-net-worth clients.
In May, MAI Capital Management, a Cleveland-based integrated iCapital’s tech into its custom in-house platform to manage alternative investments.
In April, St. Louis-based Edward Jones expanded its product lineup to include alternative investments available to eligible clients in Edward Jones Generations, the firm’s private client service for U.S. high-net-worth investors.
In February, LPL Financial launched LPL Alts Connect, a full-service platform where advisors can research, purchase and manage alternative investments.
In addition, Charles Schwab unveiled Schwab Alternative Investments Select, a platform available to all eligible retail clients with more than $5 million in household assets at Schwab.
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