Canadian in Dubai Becomes Billionaire With ‘Private CIA’ Empire
- Security firm’s management to buy 70% stake from BC Partners
- Stephan Cretier will be worth $2.6 billion after deal closes
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A divestment by one of Europe’s oldest private equity firms has minted a new Canadian billionaire.
Stephan Crétier, founder and chairman of Garda World Security Corp., will be worth $2.6 billion once London-based BC Partners completes the sale of its controlling stake in the security services company back to management. His fortune includes a $2.2 billion holding in GardaWorld and nearly $400 million in personal investments, including two Napa Valley wineries, according to the Bloomberg Billionaires Index.