IGM Financial : Mackenzie Investments and Great-West Lifeco Establish Strategic Relationship with Northleaf Capital Partners for Private Markets Investments

Mackenzie Financial Corporation ('Mackenzie Investments'), an IGM Financial Inc. ('IGM') subsidiary, Great-West Lifeco Inc. ('Lifeco'), and Northleaf Capital Partners Ltd. ('Northleaf') today announced that they have entered into a strategic relationship to expand and enhance the private markets product capabilities across IGM's and Lifeco's distribution channels.

Highlights include

Mackenzie and Lifeco will jointly acquire a non-controlling interest in Northleaf through an acquisition vehicle 80% owned by Mackenzie and 20% owned by Lifeco, providing a significant presence in the large and rapidly growing private markets investment industry.

Expands Mackenzie's capabilities to offer global private equity, private credit and infrastructure investment solutions through its retail advisory channels and financial institution distribution partners.

Enhances portfolio construction at IG Wealth Management1 , building on long-standing capabilities of incorporating private asset classes into client portfolios, with emphasis on high-net worth and mass affluent client segments.

Advances Lifeco's strategy to expand alternative investments for its balance sheet and increase client/customer access to private markets solutions across Lifeco's global distribution channels. Accelerates Northleaf's growth strategy by providing additional access to balance sheet capital, global relationships and best-in-class retail product development and distribution.

Great-West Lifeco Inc.

Great-West Lifeco is an international financial services holding company with interests in life insurance, health insurance, retirement and investment services, asset management and reinsurance businesses. Great-West Lifeco operates in Canada, the United States and Europe under the brands Canada Life, Empower Retirement, Putnam Investments, and Irish Life. At the end of 2019, Great-West Lifeco's companies had approximately 24,000 employees, 197,000 advisor relationships, and thousands of distribution partners - all serving its more than 31 million customer relationships across these regions. Great-West Lifeco and its companies have approximately $1.7 trillion in consolidated assets under administration as at June 30, 2020 and are members of the Power Corporation group of companies. Great-West Lifeco trades on the Toronto Stock Exchange (TSX) under the ticker symbol GWO.

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