WINNIPEG, MB, Nov. 19, 2021 /CNW/ - Great-West Lifeco Inc. ("Lifeco") today announced it has completed the previously announced sale of its Colorado-based subsidiaries, EverWest Real Estate Investors, LLC and EverWest Advisors, LLC ("EverWest"), to Sagard Holdings Inc. ("Sagard").
As part of the transaction, Lifeco has made a capital commitment of approximately US$500 million into certain Sagard strategies. In addition, Lifeco has committed to investing a further approximately US$2 billion in real estate related investments to support EverWest's future growth within Sagard. In exchange, Lifeco will acquire a minority stake in Sagard Holdings Management Inc., a subsidiary of Sagard.
For more information about this transaction, please refer to the news release dated October 6, 2021.