Sun Life Financial is planning to pay £300 million ($390 million) for an 80 percent majority stake in London-based InfraRed Capital Partners, which advises institutional and pooled fund clients on approximately $12 billion of assets.
InfraRed will also have the option to sell the remaining interest to Sun Life four years from the closing. With the deal, InfraRed will form part of SLC Management, Sun Life’s alternative asset management business.
Sun Life said it will also co-invest $400 million, including general account investments, to support the launch of new InfraRed investment solutions.
The transaction is expected to close during the first half of 2020.
