TORONTO,
WELLESLEY, Mass. and LONDON, July 1, 2020 /PRNewswire/ - Sun Life Financial
Inc. ("Sun Life") (TSX: SLF) (NYSE: SLF) today announced the
completion of its majority stake acquisition of InfraRed Capital
Partners ("InfraRed").
Headquartered in London, U.K.,
InfraRed is a global infrastructure and real estate manager.
InfraRed advises institutional and pooled fund Clients on
approximately US$12 billion
(C$17 billion) in assets under
management, as of March 31, 2020.
InfraRed will be part of SLC Management, Sun Life's alternatives
asset management business. The acquisition will broaden SLC
Management's investment solutions for institutional Clients to
include infrastructure equity and advance sustainable investment
options. InfraRed's global infrastructure capabilities are highly
complementary to SLC Management's platform of public and private
fixed income investments.
"We're excited to complete the acquisition of InfraRed," said
Steve Peacher, President, SLC
Management. "While the current global environment continues to test
all industries and financial markets, we're very confident about
the long-term growth in infrastructure investing. The increased
demand for infrastructure around the world has not dissipated.
Infrastructure investing remains well-positioned, presenting many
opportunities for enhancing societies in a post-COVID-19
world."
Peacher added that this transaction also presents opportunities
within renewable infrastructure in North
America. "We believe there is a compelling case for
investing in renewable infrastructure, such as wind farms and solar
energy, which can also have a positive impact on the world."
"We are delighted to announce the completion of the transaction
agreement between InfraRed and Sun Life. This agreement represents
an important milestone in InfraRed's journey and will support our
continued evolution, including the launch of a North American
renewable infrastructure fund," said Werner von Guionneau, CEO,
InfraRed Capital Partners.
von Guionneau added, "High quality, reliable core infrastructure
has been essential in delivering to the needs of communities
through this crisis. As societies emerge from the coronavirus
pandemic, it is more crucial than ever to invest in improving our
infrastructure, making it greener and more connected, to ensure we
support communities and deliver sustainable returns. This
transaction positions us perfectly and will ensure we remain at the
forefront of essential and sustainable infrastructure.
"We look forward to working closely with SLC Management and Sun
Life to extend our capabilities in North
America, with particular focus on the transition to
decarbonize energy, where we see enormous opportunity."
With the transaction close, Sun Life acquires an 80% interest in
InfraRed. InfraRed's owners have a put option to sell their
remaining interest to Sun Life in 2024 and Sun Life has the option
to call any remaining interest by the end of 2025.
For additional details on the transaction please refer to the
news release and related materials dated December
18, 2019, available.
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, 2020, Sun Life
had total assets under management of $1,023
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.
About InfraRed Capital Partners
InfraRed Capital
Partners is an international investment manager focused on
infrastructure and real estate. It operates worldwide from offices
in London, Hong Kong, New
York, Sydney, Seoul and Mexico
City. With more than 190 professionals, it manages
US$12bn of equity capital in multiple
private and listed funds, primarily for institutional investors
across the globe. InfraRed Capital Partners is authorised and
regulated in the UK by the Financial Conduct Authority.
InfraRed implements best-in-class practices to underpin asset
management and investment decisions, promotes ethical behaviour and
has established community engagement initiatives to support good
causes in the wider community. InfraRed has been a signatory of the
Principles of Responsible Investment since 2011 and has been
awarded triple A+ score in 2019 PRI assessment.
Over the past 30 years InfraRed has, initially within
Charterhouse Bank then at HSBC and latterly independently,
established itself as a highly successful developer and custodian
of core infrastructure, renewable energy and real-estate assets
that play a vital role in supporting sustainable communities.
For more information go to www.ircp.com.
About SLC Management
SLC Management is a global
institutional asset manager that offers institutional investors
traditional, alternative, and yield-orientated investment solutions
across public and private fixed income markets, as well as global
real estate equity and debt.
SLC Management is the brand name for the institutional asset
management business of Sun Life Financial Inc. ("Sun Life") under
which Sun Life Capital Management (U.S.) LLC in the United States, and Sun Life Capital
Management (Canada) Inc. in
Canada operate.
BentallGreenOak is also part of SLC Management and is a leading,
global real estate investment management advisor and a
globally-recognized provider of real estate services.
As of March 31, 2020, SLC
Management has assets under management of C$236 billion (US$168
billion).
For more information, please visit www.slcmanagement.com.
Media Relations
Contact:
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Investor Relations
Contact:
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Rajani
Kamath
|
Leigh
Chalmers
|
|
Associate
Vice-President, Corporate
|
Senior
Vice-President, Head of Investor Relations &
|
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Communications
|
Capital
Markets
|
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t.
416-979-6070
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t.
647-258-8201
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rajani.kamath@sunlife.com
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investor.relations@sunlife.com
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SOURCE Sun Life Financial Inc.