Sun Life to Acquire Majority Stake in Advisors Asset Management
On September 1, 2022, Sun Life announced plans to acquire a majority stake in Advisors Asset Management.
Under the terms of the transaction, Sun Life Financial Inc. (“Sun Life”) announced plans to acquire a majority stake in Advisors Asset Management, Inc. (“Advisors”). Sun Life will pay US $214 million to acquire a 51% stake in Advisors, with a put /call option to acquire the remaining 49% in 2028. Advisors will join Sun Life as the retail distribution arm of SLC Management, SunLife’s alternative asset management division.
Sun Life, based in Toronto, is a financial services organization operating in a number of markets worldwide. Sunlife has $1.26 trillion in assets under management.
Advisors, based in New York, is a registered investment advisor that provides financial planning, mutual funds, portfolio analytics, and exchange-traded funds. Advisors manages over $3.8 billion in client assets.
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