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GWL Realty Advisors US Inc (GWLRA US), an affiliate of Winnipeg-based financial services holding company Great-West Lifeco, has agreed to acquire the real estate private equity platform of Guggenheim Investments.

Terms weren’t released for the deal, which is expected to close in Q4 2018.

Power Corp of Canada‘s Great-West said the acquisition of Guggenheim Real Estate LLC (GRE) will enhance its investment platform in the United States.

GRE will be combined with Denver, Colorado-based EverWest Real Estate Investors, which was acquired by GWLRA US earlier this year.

PRESS RELEASE

Great-West Lifeco subsidiary GWL Realty Advisors U.S. announces agreement to acquire Guggenheim Real Estate private equity platform and related funds

WINNIPEG, Oct. 17, 2018 /CNW/ – Great-West Lifeco Inc. announced today that its subsidiary, GWL Realty Advisors U.S. Inc. (GWLRA U.S.), has entered into an agreement to acquire Guggenheim Real Estate LLC (GRE), the real estate private equity platform of Guggenheim Investments. Terms of the transaction were not disclosed.

“This strategic acquisition of GRE complements our global real estate growth strategy and further enhances our platform within the U.S. marketplace,” said Paul Mahon, President and Chief Executive Officer, Great-West Lifeco.

Founded in 2001, and with offices in Boston and Charlotte, GRE will combine with EverWest Real Estate Investors (EverWest), a real estate investment management and operating company acquired by GWLRA U.S. in February 2018.

The transaction is expected to close in the fourth quarter of 2018 and is subject to customary regulatory approvals and certain closing conditions.

About Guggenheim Investments
Guggenheim Investments is the global asset management and investment advisory division of Guggenheim Partners, with more than US$208 billion¹ in total assets across fixed income, equity, and alternative strategies. We focus on the return and risk needs of insurance companies, corporate and public pension funds, sovereign wealth funds, endowments and foundations, consultants, wealth managers, and high-net-worth investors. Our 300+ investment professionals perform rigorous research to understand market trends and identify undervalued opportunities in areas that are often complex and underfollowed. This approach to investment management has enabled us to deliver innovative strategies providing diversification opportunities and attractive long-term results.

About EverWest Real Estate Investors
EverWest Real Estate Investors is a real estate investment and operating company based in Denver, Colorado, whose goal is to create significant value for investors through a combination of capital appreciation, strategic acquisition, development, capitalization, repositioning, and management of commercial real estate assets.

About GWL Realty Advisors Inc.
GWL Realty Advisors, the parent company of GWLRA U.S. Inc., is a leading real estate investment advisor providing comprehensive asset management, property management, development and specialized real estate advisory services to pension funds and institutional clients. In 2018, GWLRA received a Green Star ranking for the fourth consecutive year from the Global Real Estate Sustainability Benchmark, the world’s leading benchmark for evaluating and ranking the sustainability practices of real estate companies. GWLRA is a subsidiary of The Great-West Life Assurance Company. To learn more, visit gwlra.com.

About Great-West Lifeco Inc.
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. Great-West Lifeco has operations in Canada, the United States and Europe through Great-West Life, London Life, Canada Life, Irish Life, Great-West Financial and Putnam Investments. Great-West Lifeco and its companies have over C$1.4 trillion in consolidated assets under administration as at June 30, 2018 and are members of the Power Financial Corporation group of companies. Great-West Lifeco trades on the Toronto Stock Exchange (TSX) under the ticker symbol GWO. To learn more, visit greatwestlifeco.com.

1 Assets under management are as of 6.30.2018 and includes leverage of US$11.7bn. Guggenheim Investments represents the following affiliated investment management businesses of Guggenheim Partners, LLC: Guggenheim Partners Investment Management, LLC, Security Investors, LLC, Guggenheim Funds Investment Advisors, LLC, Guggenheim Funds Distributors, LLC, Guggenheim Real Estate, LLC, GS GAMMA Advisors, LLC, Guggenheim Partners Europe Limited and Guggenheim Partners India Management.

For further information: Media Relations: Liz Kulyk, Great-West Lifeco, 204-926-5012, media.relations@gwl.ca; Investor Relations: Deirdre Neary, Great-West Lifeco, 416-552-3208, deirdre.neary@gwl.ca

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