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Sagard Reaches Final Close On $1.17 Billion Private Debt Fund

  • The fund is targeting an internal rate of return of 10-12%
  • The private debt market has grown as traditional banks retreat
The CN Tower from Bay Street In the financial district in Toronto, Ontario, Canada, on Monday, Nov. 22, 2021. Toronto-based alternative asset manager Sagard Holdings has raised about $1.17 billion for its second private debt fund.

The CN Tower from Bay Street In the financial district in Toronto, Ontario, Canada, on Monday, Nov. 22, 2021. Toronto-based alternative asset manager Sagard Holdings has raised about $1.17 billion for its second private debt fund.

Photographer: Cole Burston/Bloomberg

Toronto-based alternative asset manager Sagard Holdings Inc. has raised about $1.17 billion for its second private debt fund from institutional and strategic investors across the US, Canada and Europe. 

The Sagard Credit Partners II vehicle is targeting an internal rate of return of between 10-12%, well above the yield on the Bloomberg US Corporate High Yield Bond Index which scraped 8.49% Tuesday -- the highest since April 2020.