Mackenzie Financial to acquire GLC Asset Management from Great-West Lifeco for $130m.

Mackenzie Financial, an investment management firm, agreed to acquire GLC Asset Management, an investment management firm, from Great-West Lifeco, an insurance centered financial holding company, for $130m. "As a result of this expanded relationship, we’ll be in a position to offer more diverse and unique products and solutions to both Mackenzie and Canada Life clients, building upon our multi-boutique and multi-asset class structure and approach. This agreement also solidifies Mackenzie’s presence in the very important and growing group retirement market, where Canada Life is a leading provider and offers employee benefits and retirement services to millions of Canadians," Barry McInerney, Mackenzie Investments President and CEO.