BUSINESS

'Dragons' Kevin O'Leary And Brett Wilson To Merge Canadian Fund Companies

10/15/2015 12:17 EDT | Updated 10/16/2015 09:59 EDT
JB Lacroix via Getty Images
LOS ANGELES, CA - SEPTEMBER 20: Kevin O'Leary attends HBO's Official 2015 Emmy After Party at The Plaza at the Pacific Design Center on September 20, 2015 in Los Angeles, California. (Photo by JB Lacroix/WireImage)

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.

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