Announced
Financials
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Domestic
Single Bidder
asset management
Majority
Canada
Private
Asset Managers and Custodians
Acquisition
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Pending
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Synopsis
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.
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