02:10 PM EDT, 05/06/2024 (MT Newswires) -- Great-West Lifeco ( GWLIF ) said Monday it is entering into a long-term strategic partnership with Power Sustainable Manager, a subsidiary of Power Corp of Canada ( PWCDF ) .

Great West Lifeco ( GWLIF ) has become a minority shareholder of less than 20% in Power Sustainable, a climate-focused investment manager, and will invest in certain funds across Power Sustainable's investment strategies. Power Corporation of Canada ( PWCDF ) remains the controlling shareholder of Power Sustainable following this transaction.

Raman Srivastava, Executive Vice President and Global Chief Investment Officer at Great West Lifeco ( GWLIF ), has joined Power Sustainable' s Board of Directors.

Great-West shares were last seen up C$1.025 to C$43.255 on the Toronto Stock Exchange, while Power Corp was up C$0.675 to C$38.525.

Price: 43.26, Change: +1.03, Percent Change: +2.44