Mackenzie Financial Corp., a subsidiary of IGM Financial (IGM), and Great-West Lifeco, have agreed to jointly acquire a noncontrolling interest in Northleaf Capital Partners through an acquisition vehicle 80 percent owned by Mackenzie and 20 percent owned by Lifeco.
“This transaction broadens the scope of our investment offering and enhances our asset management capabilities, particularly as our clients’ appetite for diversification continues to grow,” said Barry McInerney, president and CEO of Mackenzie Investments.
Headquartered in Toronto, Northleaf has C$17 billion ($13 billion) in assets under management on behalf of institutional investors and high-net-worth individuals around the world.
“There are many growth opportunities that Mackenzie and Northleaf are uniquely positioned to execute on, and we are looking forward to working together to develop new innovative investment products while continuing to champion the democratization of alternative i