The Guardian Life Insurance Company of America has entered into an agreement with Lowe Enterprises, a real estate investment, development and management firm, to form a partnership, whereby Guardian will acquire a substantial, non-controlling interest in Lowe Enterprises Investors, Lowe’s investment management subsidiary.

Lowe Enterprises has said that Guardian has allocated $200m to expand its investment activities by investing alongside its clients and partners.

Brad Howe and Bleecker Seaman, both with the title of co-CEO, will continue to manage Lowe Enterprises on a day-to-day basis, while the firm’s existing personnel and organizational structure will remain in place following the close of the transaction.

Mr Seaman said: Guardian is a highly regarded firm with significant real estate expertise. Our whole team is enthusiastic about Guardian’s commitment to Lowe Enterprises Investors and the opportunities it presents for us to invest alongside our partners and clients.

Tom Sorell, executive vice president and chief investment officer of Guardian Life Insurance, said: We view this as an opportune time to invest in real estate with a partner that has a strong, long term record of performance in identifying compelling investment opportunities that will provide attractive returns for our policyholders.”

Robert Lowe, chairman and CEO of Lowe enterprises, said: ‘We are in excellent position to take advantage of the tremendous investment opportunities in real estate, to the benefit of Lowe Enterprises investors’ clients and partners and Guardian’s policyholders.