Canadian in Dubai Becomes Billionaire With ‘Private CIA’ Empire

A divestment by one of Europe’s oldest private equity firms has minted a new Canadian billionaire.

Stephan Crétier, founder and chairman of Garda World Security Corp., will be worth $2.6 billion once London-based BC Partners completes the sale of its controlling stake in the security services company back to management. His fortune includes a $2.2 billion holding in GardaWorld and nearly $400 million in personal investments, including two Napa Valley wineries, according to the Bloomberg Billionaires Index.

“It’s monumental, the wealth creation that’s being done,” Crétier, 61, said in an interview.

The transaction, which values GardaWorld at ...