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Great-West Lifeco announces strategic partnership with Sagard Holdings
Great-West Lifeco announces strategic partnership with Sagard Holdings Canada N...
About this update from Great-west Lifeco Inc.
[{"type":"text","content":"\n \n \n \n Great-West Lifeco announces strategic partnership with Sagard Holdings\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n WINNIPEG, MB\n \n ,\n \n Oct. 7, 2021\n \n /CNW/ - Great-West Lifeco Inc. (\"Lifeco\") today announced it has agreed to enter into a long-term strategic partnership with Sagard Holdings (\"Sagard\") which includes the sale of its\n \n Colorado\n \n -based subsidiaries, EverWest Real Estate Investors, LLC and Everwest Advisors, LLC (\"EverWest\"), to\n \n Sagard\n \n , and a capital commitment of up to approximately\n \n US$500 million\n \n by Lifeco into certain\n \n Sagard\n \n funds. In exchange, Lifeco will acquire a minority stake in Sagard Holdings Management Inc., a subsidiary of\n \n Sagard\n \n .\n \n \n \n \n \n \n \n \n \n \"This transaction will advance Lifeco's strategy to further broaden its access to alternative investment options,\" said\n \n Paul Mahon\n \n , President and Chief Executive Officer, Great-West Lifeco. \"It will provide enhanced access to\n \n Sagard's\n \n diversified asset classes, complementing our existing investment teams. The result will be broader, more diversified options for clients and our general account.\"\n \n \n As part of the transaction, Lifeco has committed to investing a further approximately\n \n US$2 billion\n \n in real estate related investments to support EverWest's future growth within\n \n Sagard\n \n .\n \n \n \"We are excited to enter into a strategic partnership with\n \n Sagard\n \n and look forward to further expanding into private market solutions,\" said\n \n Raman Srivastava\n \n , Global Chief Investment Officer, Great-West Lifeco. \"This transaction will give Lifeco a meaningful position in\n \n Sagard's\n \n future growth and helps expand our access to alternatives capabilities to better serve our clients with private markets solutions across Lifeco's global distribution channels.\"\n \n \n For more information about this transaction, please see\n \n the release from\n \n Sagard\n \n \n issued earlier today. ...