- Sun Life Financial ( NYSE: SLF ) said Thursday it will acquire a majority stake in Advisors Asset Management ( AAM ) through its institutional fixed income and alternatives asset manager SLC Management.
- SLF will acquire a 51% interest in AAM for $214M, with a put/call option to acquire the remaining 49% starting in 2028.
- AAM will become the U.S. retail distribution arm of SLC Management.
- SLF will invest up to $400M to launch SLC Management alternative products for the U.S. retail market, which will be distributed by AAM.
- The acquisition will allow SLC Management to offer their investment strategies to high-net-worth investors in the U.S.
- The deal will expand AAM's product portfolio to include alternative products in commercial real estate, private credit and infrastructure.
- The deal is expected to close in H1 2023.
For further details see:
Sun Life Financial to pick up majority stake in Advisors Asset Management for $214M