Great-West Lifeco Subsidiary Canada Life to Acquire Value Partners Group
By Adriano Marchese
The Canada Life Assurance has reached an agreement to acquire Winnipeg-based investment firm Value Partners Group for an undisclosed sum.
Canada Life, a subsidiary of Great-West Lifeco, said that the acquisition of Value Partners and its companies will accelerate its efforts to build a wealth-management platform through complementary products and capabilities.
With the addition of Value Partners, which also includes Value Partners Investment Counsel, Value Partners Investments and LP Financial Planning Services, Canada Life will add over 4,000 adviser relationships and 89 billion Canadian dollars ($66.58 billion) in assets under management.
After the transaction, Value Partners will continue to operate independently with its existing management team and employees, and Canada Life said that over time it will bring together the full range of wealth products and services to support its advisers.
The transaction is expected to close by the end of 2023.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
June 13, 2023 07:37 ET (11:37 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.-
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