Sun Life Financial to Acquire InfraRed Capital Partners

January 2, 2020

On December 18, 2019, Sun Life Financial Inc. announced that it had entered into an agreement to acquire a majority stake in InfraRed Capital Partners.

Pursuant to the agreement, Sun Life Financial Inc. (“Sun Life”) will acquire an 80% interest in InfraRed Capital Partners (“InfraRed”). The consideration will include a closing payment of £300 million (approximately USD$390 million). For approximately four years post-closing, InfraRed owners will have a put option to sell their remaining interest, while Sun Life will have a call option for any remaining interest for approximately five years post-closing. Sun Life has further committed to co-invest USD$400 million for the launch of new InfraRed investment solutions. After the acquisition InfraRed will become a part of Sun Life’s alternative asset management business, SLC Management. The transaction is expected to close in the first half of 2020, subject to regulatory approval and the satisfaction of customary closing conditions.

InfraRed is a London-based global infrastructure and real estate investment manager. It has approximately USD$12 billion in assets under management as of September 30, 2019.

Sun Life (NYSE: SLF) is an international financial services organization that provides insurance, wealth and asset management solutions to individual and corporate clients. It has CAD$1,063 billion of assets under management as of September 30, 2019.

To read the press release: please click here.


Categories

Investment Manager M&A, Transactions