Desjardins Group announced Aug. 28 that it has entered a definitive agreement for a take-private acquisition of Guardian Capital Group Limited, a publicly traded global investment management company, in an all-cash transaction that values Guardian at approximately C$1.67 billion or C$68.00 per share. The transaction is expected to close in the first quarter of 2026.
This deal follows the acquisition from Guardian of IDC Worldsource Insurance Network, Worldsource Financial Management, and Worldsource Securities – a transaction announced in November 2022 and closed in early 2023.
In a press release, Desjardins says the acquisition “will mark a significant milestone for Desjardins in strengthening its position in asset management across Canada and internationally.”
C$280 billion in assets under management
Desjardins adds that bringing together Desjardins Global Asset Management (DGAM) and Guardian will form an organization with approximately C$280 billion in assets under management and advisement.
“Guardian's strong international footprint—including operations across North America, Europe, and other global markets—complements the strengths of Desjardins in Canada, particularly its presence in Quebec, creating a more dynamic and competitive asset management platform,” says Desjardins.
A strategic leap
"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,” states Guy Cormier, President and CEO of Desjardins Group. “This is more than a transaction—it's a strategic leap that reflects our enduring commitment to innovation, excellence and long-term value creation."
As part of the deal, George Mavroudis, current President and CEO of Guardian, will be appointed CEO of the combined business. Nicolas Richard, current President and COO of DGAM, will join his executive team.
