The Winnipeg-based insurance provider and subsidiary of the Desmarais family’s Power Corp. has committed to back Power Sustainable’s funds for a nearly 20 per cent stake in the business. Power Corp. will remain the majority owner of the $3-billion sustainable investing division. (The Logic)
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The Winnipeg-based insurance provider and subsidiary of the Desmarais family’s Power Corp. has committed to back Power Sustainable’s funds for a nearly 20 per cent stake in the business. Power Corp. will remain the majority owner of the $3-billion sustainable investing division. (The Logic)
Talking point: Power Sustainable aims to generate profitable returns and positive environmental outcomes on investments it manages for institutional investors. The partnership with Great-West Lifeco is meant to help the firm expand its private equity and green infrastructure business while helping the insurer meet its green objectives, the firm said in a press release. The companies have collaborated in the past. In 2021, Great-West Lifeco joined a group of investors in backing a Power Sustainable renewable energy infrastructure fund, which had grown from $1 billion to $1.8 billion as of last November.
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