The Globe and Mail reports in its Thursday edition that Sagard Holdings is buying a share of Connecticut-based private equity firm Performance Equity Management, paving the way for it to acquire the business outright in five years, as the Montreal alternative asset manager branches out into new investment strategies. The Globe's James Bradshaw writes that Sagard manages a $15-billion (U.S.) portfolio, with investments spread across private equity and credit, venture capital, real estate and health care royalties. By partnering with PEM, which manages $8.9-billion (U.S.) of assets, Sagard plans to give its clients access to new types of investments through a broader array of asset managers. The size of Sagard's stake in PEM was not disclosed, nor was the purchase price, but the agreement gives Sagard a chance to acquire PEM's remaining shares at the end of 2028. In the meantime, PEM's management will stay on to run the business, and will keep full control over investment activities. Sagard, a subsidiary of Power Corp. of Canada and is controlled by the Desmarais family, has been expanding, and earlier this year, it brought on Abu Dhabi-based sovereign wealth fund ADQ and Bank of Montreal as equity partners.