Sun Life to combine certain affiliates into
SLC Management, creating a new Top 100 Global Asset Management
Firm1
TORONTO and NEW YORK CITY, June 18,
2019 /CNW/ - Sun Life Financial Inc. (TSX: SLF) (NYSE: SLF)
today announced the establishment of SLC Management. SLC
Management combines the organization's affiliated fixed income
institutional asset management businesses – Prime Advisors, Ryan
Labs Asset Management and Sun Life Institutional Investments
(U.S. and Canada) – as well as Sun
Life's general account, into a new autonomous asset management
business. SLC Management also replaces the Sun Life Investment
Management brand globally, effective immediately.
With C$212 billion (US$159 billion) in combined assets under
management as of March 31, 2019, SLC
Management provides its more than 1000 institutional clients with a
full range of yield-oriented investment solutions across public and
private fixed income asset classes as well as global real
estate equity and debt. SLC Management will couple its deep
heritage of managing long-term financial liabilities with a
strengthened, fully-integrated, seamless investment
platform.
"The launch of SLC Management builds on the organic growth that
we've achieved since the establishment of our business and on the
acquisitions of Ryan Labs, Prime
Advisors and Bentall Kennedy," said Steve
Peacher, President, SLC Management. "This next step
underlines our commitment to putting our clients at the heart of
everything that we do. It enhances the strength, breadth, and
seamless functioning of our investment strategies so that we
can further achieve the investment objectives of our
institutional clients."
SLC Management will have two related, but distinct pillars – a
fixed income pillar and a real estate pillar. The fixed income
pillar will operate under the SLC Management brand name, and will
include the affiliates currently known as Prime Advisors, Ryan
Labs Asset Management and Sun Life Institutional Investments (in
both the U.S. and Canada). The
real estate pillar will be comprised of the merged operations of
SLC Management's Bentall Kennedy business with GreenOak Real Estate
(to be named "BentallGreenOak" upon close).
Each of the portfolio management teams within SLC Management
will retain investment autonomy while having access to a global
credit analyst team of 40 experienced colleagues. This structure
allows the teams to focus on driving investment performance for SLC
Management's clients, a structure the firm believes creates
additional value for clients.
Added Peacher: "Every change to our business is one that we feel
will enhance our capabilities for our clients, who we share a
common purpose with, which is to manage assets to meet long-term
financial obligations. Sun Life has done this successfully for over
150 years and believe that we are uniquely placed to support them
going forward. SLC Management supports and advances Sun Life's
vision of creating a global asset management firm that provides
differentiated investment strategies to meet the evolving needs of
investors."
Connect with SLC Management
https://www.linkedin.com/company/sun-life-financial
About SLC Management
SLC Management is the institutional asset management business of
Sun Life Financial Inc. ("Sun Life") under which 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 operate. 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. In the
U.S., 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.
The Bentall Kennedy Group ("Bentall Kennedy") is also part of
SLC Management. Sun Life announced an agreement to merge Bentall
Kennedy with GreenOak Real Estate on December 19, 2018. The transaction is expected,
subject to satisfaction of all conditions, including regulatory
approvals, to close in the second half of 2019. Bentall
Kennedy includes Bentall Kennedy (Canada) Limited Partnership, Bentall Kennedy
(U.S.) Limited Partnership and the real estate and 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
C$212 billion (US$159 billion).
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 trades on the Toronto
(TSX), New York (NYSE) and
Philippine (PSE) stock exchanges under the ticker symbol SLF.
Note to editors: All figures in Canadian dollars unless
otherwise indicated
Media Relations Contact:
Connie Soave
Director, Communications
SLC Management
T. 416-407-5721
connie.soave@slcmanagement.com
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1 Ranking based on SLC Management's
assets under management and Willis Towers Watson 2018 Report of
[the] World's Asset Managers.
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2 Formerly, Sun Life Institutional
Investments (U.S.) LLC. The firm changed its name effective June
18, 2019.
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3 Formerly, Sun Life Institutional
Investments (Canada) Inc. The firm changed its name effective June
18, 2019.
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SOURCE Sun Life Financial