The Globe and Mail reports in its Thursday edition that Power Corp. of Canada and its two main publicly traded subsidiaries announced a combined $150-million (U.S.) investment Wednesday in a new fund focused on artificial intelligence. The Globe's Sean Silcoff writes that Power Corp., along with Great-West Lifeco and IGM Financial, provided the financing to establish Sagard AI Fund LP. The fund will back AI companies focused on accelerating use of the technology across financial services and other sectors. Evan Kerr has joined Sagard to lead the fund as general partner, after serving as a lead investor with Georgian, a Toronto growth capital firm. He follows Parinaz Sobhani, the former head of AI at Georgian, who joined Sagard in a similar role two years ago. Sagard is Power's alternative asset management arm and has more than $46-billion (U.S.) in assets under management in venture capital, private equity, private credit and real estate. Power is controlling shareholder of Sagard. Its key holdings include stakes in Canadian financial technology powerhouses Wealthsimple, Koho and Nesto. Sagard has been bulking up with acquisitions, buying Swiss boutique asset manager Unigestion's private-equity business last year.