On February 1, 2023, Sun Life announced the acquisition of a majority stake in Advisors Asset Management.
Under the terms of the transaction, originally announced in September 2022, Sun Life Financial Inc. (“Sun Life”) has completed the acquisition of a 51% stake in Advisors Asset Management, Inc. (“Advisors”). Sun Life paid US $214 million for the stake, with a put/call option to acquire the remaining 49% in 2028. Advisors has joined 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 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 analysis, and exchange-traded funds. Advisors manages approximately $3.8 billion in client assets.
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