TORONTO, July 2, 2019 /CNW/ - Sun Life Financial
Inc. ("Sun Life") (TSX: SLF) (NYSE: SLF) today announced
the completion of its acquisition of a majority stake in
BentallGreenOak. Leveraging the deep and successful history
of both firms, BentallGreenOak will form the real estate pillar of
our recently established institutional asset management business,
SLC Management, a top 100 global asset management
firm1.
"We're excited about the completion of the BentallGreenOak
acquisition and increasing our global real estate investment
footprint," said Dean Connor,
President & CEO of Sun Life. "This acquisition adds
organizational depth and a full spectrum of solutions including
equity and debt real estate strategies, while adding to the
capabilities of our alternatives manager, SLC Management."
"Our focus remains on delivering exceptional service and
performance for investors in the alternative asset management
space, leveraging the depth and breadth of experience Sun Life has
utilized to manage its own assets for over 150 years,"
said Steve Peacher, President, SLC Management. "We're
confident that SLC Management is uniquely positioned to offer
like-minded investors, such as pension funds, insurance companies
and endowments, solutions to meet their needs."
For additional details on the transaction please refer to the
news release and related materials dated December 19,
2018, available here.
Note to Editors: All figures in Canadian dollars
unless otherwise noted.
About Sun Life
Sun Life is a leading international
financial services organization providing insurance, wealth and
asset management solutions to individual and corporate Clients. Sun
Life has operations in a number of markets worldwide, including
Canada, the United States, the United Kingdom, Ireland, Hong
Kong, the Philippines,
Japan, Indonesia, India, China,
Australia, Singapore, Vietnam, Malaysia and Bermuda. As of March
31, 2019, Sun Life had total assets under management of
$1,011 billion. For more information,
please visit www.sunlife.com.
Sun Life Financial Inc. trades on the Toronto (TSX), New
York (NYSE) and Philippine (PSE) stock exchanges under the
ticker symbol SLF.
Connect with SLC Management
About SLC Management
SLC Management is an
institutional alternatives asset management business of Sun Life,
composed of the SLC Management Fixed Income Business and
BentallGreenOak Real Estate Business. The SLC Management
Fixed Income Business includes Prime Advisors, Inc. ("Prime
Advisors"), Ryan Labs Asset Management Inc. ("Ryan Labs Asset
Management"), and Sun Life Capital Management (U.S.)
LLC2 in the United
States, and Sun Life Capital Management (Canada) Inc.3 in Canada.
Additionally, the SLC Management brand includes the investment
division and General Account of Sun Life.
Sun Life intends to merge Ryan
Labs and Prime with Sun Life Capital Management (U.S.) LLC
on or about December 31, 2019. Until
such merger, Sun Life Capital Management (U.S.) LLC may appoint
Ryan Labs and/or Prime as an
investment sub-adviser for certain investment strategies.
Registration as an investment adviser does not imply any level of
skill or training. Sun Life also intends to transition the
investment division managing its General Account into the SLC
Management business on or about December 31,
2019.
BentallGreenOak includes BentallGreenOak (Canada) Limited Partnership,
BentallGreenOak(U.S.) Limited Partnership and the commercial
mortgage investment groups of certain of their affiliates, all of
which comprise a team of real estate professionals spanning
multiple legal entities.
As of March 31, 2019, SLC
Management's collective operations have assets under management of
$212 billion (US$159 billion).
Media Relations
Contact:
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Investor Relations
Contact:
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Connie
Soave
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Leigh
Chalmers
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Director,
Communications
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Head of Investor
Relations & Capital Management
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Sun Life
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Sun Life
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T.
416-407-5721
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T.
647-256-8201
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connie.soave@sunlife.com
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investor.relations@sunlife.com
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1
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Ranking based on SLC
Management's assets under management and Willis Towers Watson 2018
Report of the World's Asset Managers. On June 18, 2019 Sun
Life announced the establishment of SLC Management, replacing the
Sun Life Investment Management brand globally.
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2
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Formerly, Sun Life
Institutional Investments (U.S.) LLC. The firm changed its name
effective June 18, 2019.
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3
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Formerly, Sun Life
Institutional Investments (Canada) Inc. The firm changed its name
effective June 18, 2019.
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SOURCE SLC Management