Fri, Mar 29, 2024
A A A
Welcome Guest
Free Trial RSS pod
Get FREE trial access to our award winning publications
Alternative Market Briefing

Canadian insurance major Sun Life acquires 80% stake in London alternative manager InfraRed Capital for $390m

Thursday, December 19, 2019

Laxman Pai, Opalesque Asia:

Canadian insurance major Sun Life Financial Inc is acquiring an 80 percent stake in InfraRed Capital Partners, a London-headquartered global infrastructure and real estate investment manager, for 300 million pounds ($390 million) to expand its asset management unit.

InfraRed will become a part of SLC Management, the Canadian insurer's alternative asset management business. Sun Life can buy the remaining stake five years from the close.

InfraRed advises institutional and pooled fund clients on approximately $12 billion (C$16 billion) in assets under management as of September 30, 2019.

The acquisition is integral to Sun Life's strategy of broadening its asset management pillar by extending the capabilities of SLC Management to the benefit of existing and prospective clients.

As part of the transaction, Sun Life has committed to co-invest US$400 million (approximately C$530 million), including general account investments, to support the launch of new InfraRed investment solutions. This co-investment provides alignment between Sun Life and SLC Management's clients.

The acquisition of a majority position in InfraRed further broadens SLC Management's alternative solutions to now include infrastructure equity, said SLC Management president Steve Peacher. "InfraRed's proven investment capabilities in infrastructure are a natural extension of SLC Management's solution set. There is also a strong cultural fit between the two fi......................

To view our full article Click here

Previous Opalesque Exclusives                                  
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. KKR raises $6.4bn for the largest pan-Asia infrastructure fund[more]

    Laxman Pai, Opalesque Asia: The New York-based global investment firm KKR has raised a record $6.4bn for its second Asia-focused infrastructure fund, underlining investors' continued appetite for private markets. According to a media release from the alternative assets manager, the figure top

  2. Bucking the trend, top hedge fund makes plans for a second SPAC[more]

    From Institutional Investor: SPACs aren't dead. At least not to the folks at Cormorant Asset Management. The life sciences firm, whose hedge fund topped its peers in 2023, is confident it will match the success of its first blank-check company. Last week, the life sciences and biopharma speciali

  3. Benefit Street Partners closes fifth fund on $4.7 billion[more]

    Bailey McCann, Opalesque New York: Benefit Street Partners has closed its fifth flagship direct lending vehicle, BSP Debt Fund V, with $4.7 billion of investable capital across the strategy. Benefit Street invests primarily in privately originated, floating rate, senior secured loans. The fun

  4. 4 hedge fund themes that are working in 2024[more]

    From The Street: A poor earnings report from Tesla (TSLA) has not hurt the indexes on Thursday. The decline in Tesla stock, which is losing its position in the Magnificent Seven pantheon, is more than offset by strong earnings from IBM (IBM) and ServiceNow (NOW) . In addition, the much higher-t

  5. Opalesque Exclusive: A global macro fund eyes opportunities in bonds[more]

    Bailey McCann, Opalesque New York for New Managers: Munich-based ThirdYear Capital rebounded in 2023, following a tough year for global macro. The firm's flagship ART Global Macro strategy finished the year up 1