Financial services giant Desjardins Group is paying $1.67-billion in cash to acquire money manager Guardian Capital Group Ltd. GCG-T with plans to invest more in private market assets.

Montreal-based Desjardins is offering $68 per share for Guardian in a transaction that, subject to court, shareholder and regulatory approval, is expected to close in early 2026. Desjardins Global Asset Management currently manages about $112-billion in assets, focused primarily in Quebec, while Guardian’s approximately $168-billion in assets under management is held mostly in the United States.

“It is one thing to have a lot of assets under management, but this transaction will allow us to present a deeper and broader roster of strategies and solutions and products to our clients around the world,” Desj

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