Kevin O’Leary does real deal with fellow ‘dragon’ to merge Canadian fund managers

TORONTO – Celebrity businessman Kevin O’Leary and another former “Dragons’ Den” star are merging their two fund companies, which will manage nearly $4 billion once the deal is done.

W. Brett Wilson, who is chairman of Canoe Financial, says the two men got to know each other while at “Dragons’ Den” — a TV program in which entrepreneurs seek money and advice from the so-called dragons.

O’Leary — one of the original stars of the CBC reality TV show, on ABC’s version “Shark Tank,” and a commentator on other business programs — will become vice-chairman of Canoe Financial under the agreement.

Although O’Leary is the more prominent of the two businessmen because of his numerous TV appearances, his company manages a smaller base of assets and will bring Canoe Financial contracts representing $800 million in investment assets.