Deal will see Desjardins taking this asset manager private
Desjardins Group announced on Thursday morning that it has agreed to acquire Guardian Capital Group Ltd. in a take-private deal valuing Guardian at approximately $1.67 billion or $68.00 per share.
The announcement follows Desjardins' 2023 acquisition of Guardian's life insurance, mutual fund, and investment distribution networks. This deal is expected to close in Q1 of 2026. According to a press release announcing the deal, this acquisition brings Desjardins Global Asset Management's combined AUM and AUA to approximately $280 billion.
“By combining our strengths with Guardian, we are building a leading platform with the scale, capabilities, and reach to serve investors in Canada and around the world," said Guy Cormier, President and CEO of Desjardins Group.
Guardian President & CEO George Mavroudis will be appointed CEO of the combined business as part of this deal. Desjardins Global Asset Management President and COO Nicolas Richard will serve on the executive team.
“We are immensely proud of our 65-year legacy as a trusted and respected asset management company. This transaction marks a pivotal opportunity for Guardian to align with a strong strategic partner—one with exceptional financial resources and an even longer distinguished history in financial services”, said George Mavroudis, President and CEO of Guardian Capital Group.
