![]() It’s all part of the most ambitious remaking of Power since the death of the patriarch, Paul Desmarais Sr., almost a decade ago. ![]() They’ve lured cash from Abu Dhabi’s sovereign wealth fund to juice growth in their private equity group, and bought a big stake in a New York wealth manager that sprung from the Rockefellers’ family office. They’re jettisoning Putnam Investments - selling the Boston-based fund manager at a huge loss in a deal that stands to make them one of the largest outside shareholders in Franklin Templeton’s parent company. ![]() of Canada, the publicly traded holding company that’s the primary source of a fortune worth at least US$4.5 billion. Inside a narrow gray stone building just off Montreal’s main business district, the family and their key lieutenants are reshaping Power Corp. Only this time, it’s not simply to expand their empire - it’s to fix it. The Desmarais clan is back in dealmaking mode.
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