Power Corp, Great-West Lifeco, IGM Financial Jointly Invest $150 Million in AI Fund
By Adriano Marchese
Power Corp. of Canada, Great-West Lifeco and IGM Financial are jointly investing $150-million into in a newly created fund called artificial intelligence-focused Sagard AI Fund LP.
The fund will back AI-driven companies that are accelerating the adoption of the technology across financial services and other key sectors globally.
The three companies on Wednesday said the investment is part of a broader strategy across the Power group to engage early with AI as a foundational technology.
Power Corp. owns controlling stakes in both insurer and asset management firm Great-West Lifeco, and IGM Financial, another wealth and asset management business.
The investment is meant to give the Power group early access to emerging AI technologies and insights that can be applied across its insurance, wealth and asset-management businesses, they said.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
May 20, 2026 10:04 ET (14:04 GMT)
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