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Mackenzie Investments, Great-West Lifeco and Northleaf Capital Partners Close Transaction Establishing Strategic Relationship
Mackenzie Investments, Great-West Lifeco and Northleaf Capital Partners Close Transaction...
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[{"type":"text","content":"\n \n \n \n Mackenzie Investments, Great-West Lifeco and Northleaf Capital Partners Close Transaction Establishing Strategic Relationship\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.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n TORONTO and WINNIPEG, MB, Oct. 29, 2020\n \n \n \n \n \n Mackenzie Investments and Great-West Lifeco Complete Acquisition\n \n \n of Strategic Interest in Northleaf Capital Partners\n \n \n \n \n TORONTO\n \n and\n \n WINNIPEG, MB\n \n ,\n \n Oct. 29, 2020\n \n /CNW/ - Mackenzie Financial Corporation (\"Mackenzie Investments\" or \"Mackenzie\"), an IGM Financial Inc. (\"IGM\") subsidiary, and Great-West Lifeco Inc. (\"Lifeco\") today announced that they have closed the acquisition of an interest in Northleaf Capital Partners Ltd. (\"Northleaf), a global private markets investments firm, establishing a strategic relationship among the three organizations.\n \n \n \n \n \n \n \n \n \n The relationship was first announced on\n \n September 17, 2020\n \n and will provide Mackenzie and Lifeco with a significant presence in the growing private markets investment industry and Northleaf with the opportunity to accelerate its growth strategy.\n \n \n The transaction includes Mackenzie and Lifeco jointly acquiring a 49.9 per cent non-controlling voting interest and a 70 per cent economic interest in Northleaf through an acquisition vehicle\n \n 80 per cent owned by Mackenzie and 20 per cent owned by Lifeco. Northleaf's senior leadership will maintain a 50.1 per cent voting interest in the firm, which will remain employee-controlled and operationally independent.  Further, there will be no change in Northleaf's investment decision making or investor relations activities.\n \n \n Mackenzie and Lifeco will have an obligation and right to purchase an additional equity and voting interest in the firm commencing in approximately five years and extending into future periods.\n \n \n \n IGM Financial\n \n \n IGM Financial Inc. is one of\n \n Canada's\n \n leading diversified wealth and asset management companies with approximately\n ...