2025 Sohn Montreal: Building a Global Asset Manager in Quebec

At the 2025 Sohn Montreal Conference, Chris Arsenault, Partner at Inovia Capital; Jean-Guy Desjardins, Chairman and CEO of Fiera Capital; Tasso Lagios, Managing Partner at Richter LLP; Francois Rivard, CEO of Innocap; and Adam Vigna, Co-Founder and CIO of Sagard, joined moderator Robert Lewin, CFO of KKR, for the panel titled “Investing in Our Province / Building a Global Asset Manager in Quebec.” The discussion highlighted how Quebec-based firms are leveraging local expertise and culture to build global investment platforms, navigating challenges in scaling, innovation, and market positioning while maintaining strong roots in the province. Drawing on their diverse leadership and strategic insights, the panelists offered perspectives on growth, transformation, and sustaining competitive advantage in a rapidly evolving global asset management landscape.

Chris Arsenault

• Background: Chris Arsenault led Inovia’s strategy since 2007 and has been central in building Canada’s tech investment ecosystem. He previously worked as a tech entrepreneur in the 1990s and early 2000s. He founded Inovia Capital in 2007 out of a perceived necessity due to a lack of top-tier VCs headquartered in Canada and Canadian companies being acquired too early. He has helped scale and exit ventures and also funds emerging VC managers. He is a strong advocate for Canada's deep pool of AI talent.
• Firm Focus: Inovia Capital is a scaled venture capital business with a primary focus on Canada. The firm invests across discovery, venture, and growth stages, including significant investment in AI-enabled startups.
• Time at Firm: He has been with Inovia Capital since founding it in 2007.

Jean-Guy Desjardins

• Background: Jean-Guy Desjardins established Fiera Capital in 2003 as an investment subsidiary of a Quebec-based group. He has served on various boards, including the Bank of Canada. His vision was to grow the firm from its Quebec base into a global investment management organization for long-term sustainability and scale. This growth was achieved through a combination of organic efforts (hiring talent and building teams) and acquisitions. He noted that initially, none of the Fiera leadership had global experience with a large corporation.
• Firm Focus: Fiera Capital is a global asset management business that grew from a Canadian base, now managing $160 billion. They focus on building investment management strategies and managing both a global and local culture.
• Time at Firm: He has been with Fiera Capital since founding it in 2003.

Tasso Lagios

• Background: Tasso Lagios has spent over two decades advising high-net-worth individuals, entrepreneurs, and families on various aspects of wealth management and planning. He is considered a trusted advisor in Canada’s wealth management community. Under his leadership, Richter transitioned from a focus on family business taxation and accounting to becoming Canada’s largest business family office. This involved significant internal change, breaking down silos, and retraining staff. He focused the firm on providing a holistic view for clients and made decisions to selectively remove clients to focus on having a greater impact on fewer relationships.
• Firm Focus: Richter LLP operates as a business family office, providing comprehensive advice to high-net-worth individuals, entrepreneurs, and families.
• Time at Firm: He has been advising clients for over two decades and has been involved in Richter's significant transition over the past 10-15 years.

Francois Rivard

• Background: Francois Rivard leads Innocap’s strategic vision as a global leader in technology-enabled dedicated and managed accounts. He has almost 30 years of experience in capital markets and asset management, including previous time at National Bank of Canada. He set out to transform the asset management industry about 15 years ago.
• Firm Focus: Innocap operates an institutional alternative investment platform providing transparency, control, and capital efficiency for asset owners accessing hedge funds.
• Time at Firm: He has been involved with Innocap's mission to transform the industry for approximately 15 years.

Adam Vigna

• Background: Before co-founding Sagard, Adam Vigna held senior leadership roles at the Canada Pension Plan Investment Board. He co-founded Sagard in 2016, backed by PowerCorp’s balance sheet. At Sagard, he oversees investment strategy, governance, and portfolio decisions.
• Firm Focus: Sagard. It is a firm that has grown significantly through organic efforts and acquisitions, with a goal to reach $60 billion AUM by 2030. They emphasize a decentralized model and core values of community, respect, tolerance, team, and collaboration.
• Time at Firm: He has been with Sagard since co-founding it in 2016.

Robert Lewin

• Background: Since joining KKR, Robert Lewin has held senior roles across private equity, credit, capital markets, and corporate development. He helped launch KKR’s Asia business and serves on several boards.
• Firm Focus: KKR focuses on private equity, credit, and alternative investments across global markets..
• Time at Firm: Robert Lewin joined KKR in 2004 and currently serves as Chief Financial Officer.

2025 Sohn Montreal Conference - Chris Arsenault, Jean-Guy Desjardins, Tasso Lagios, Francois Rivard, Adam Vigna, and Robert Lewin

Robert Lewin: Great. Thank you, everybody, for sticking around for the last session. This should be an exciting one with the group we’ve got assembled. I’ll do quick introductions, then we’ll get into the discussion.

First, Adam Vigna, co-founder, managing partner, and CIO of Sagard, where he oversees investment strategy, governance, and portfolio decisions. Previously, he held senior leadership roles at the Canada Pension Plan Investment Board.

Next, Francois Rivard, CEO of Innocap, leading the firm’s strategic vision as a global leader in technology-enabled dedicated and managed accounts. He’s got almost 30 years of experience in capital markets and asset management, including time at National Bank of Canada.

Next, Jean-Guy Desjardins, founder, chairman, and CEO of Fiera Capital, established in 2003. He’s served on boards including the Bank of Canada, AGC, Montreal, and various cultural and philanthropic organizations.

Tasso Lagios, managing partner at Richter, has spent over two decades advising high-net-worth individuals, entrepreneurs, and families on wealth transition, succession planning, governance, and taxation. He’s become a trusted advisor in Canada’s wealth management community.

Finally, Chris Arsenault, founding partner of Innovia Capital, has led the firm’s strategy since 2007 and played a central role in building Canada’s tech investment ecosystem. He’s helped scale and exit ventures like Lightspeed Commerce, Luxury Retreats, and Super.com. His leadership continues to shape the innovation landscape in Canada and beyond.

A quick intro on me, Robert Lewin, CFO at KKR. I grew up in Montreal, so being back here for this event supporting the Children’s Hospitals of Montreal is very personal. Thanks to Aaron and Anick for planning an awesome day.

Let’s get into the conversation. Tasso, Richter has transitioned from a firm focused on family business taxation, accounting, trusts, to Canada’s largest business family office. What challenges did you face, and what lessons can you share?