Great-West Lifeco’s Strategic Partnership with Sagard Holdings

Torys LLP acted as counsel to Great-West Lifeco on the deal.

Great-West Lifeco Inc. has agreed to enter into a long-term strategic partnership with Sagard Holdings  which includes the sale of its Colorado-based subsidiaries, EverWest Real Estate Investors, LLC and Everwest Advisors, LLC, to Sagard and a capital commitment of up to approximately US$500 million by Lifeco into certain Sagard funds. In exchange, Lifeco will acquire a minority stake in Sagard Holdings Management Inc., a subsidiary of Sagard.

As part of the transaction, Lifeco has committed to investing a further approximately US$2 billion in real estate related investments to support EverWest’s future growth within Sagard.

Sagard is a multi-strategy alternative asset manager with more than US$8 billion under management and professionals located in Canada, the US, Europe and Asia. 

Great-West Lifeco Inc. is an international financial services holding company with interests in life insurance, health insurance, retirement and investment services, asset management and reinsurance businesses. 

EverWest is a real estate investment management firm based in Denver, Colorado, with US$3.8 billion in assets under management.

The Torys’ team included Karrin Powys-Lybbe (Picture), Konata Lake, Daniel Masliyah, Stephanie Gurrieri, Paulina Taneva and Andrew McFarlane (corporate/M&A), Blair Keefe and Eli Monas (insurance regulatory), Ebad Rahman (commercial arrangements) and Gwen Watson (tax).

Involved fees earner: Stephanie Gurrieri – Torys LLP; Blair Keefe – Torys LLP; Konata Lake – Torys LLP; Daniel Masliyah – Torys LLP; Andrew McFarlane – Torys LLP; Eli Monas – Torys LLP; Karrin Powys-Lybbe – Torys LLP; Ebad Rahman – Torys LLP; Paulina Taneva – Torys LLP; Gwen Watson – Torys LLP;

Law Firms: Torys LLP;

Clients: Great-West Lifeco;

Sonia Carcano

Author: Sonia Carcano