Deals
Sun Life to Expand in Infrastructure With InfraRed Deal
- Canadian insurer will pay $390 million to acquire an 80% stake
- InfraRed oversees more than 200 projects in 30 countries
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Sun Life Financial Inc. agreed to pay $390 million to acquire 80% of infrastructure and real estate investment manager InfraRed Capital Partners, a deal that broadens its alternative investment offerings.
InfraRed, which had $12 billion in assets as of Sept. 30, will become part of Sun Life’s alternatives asset manager SLC Management, the companies said Wednesday in a statement. London-based InfraRed, which also has offices in New York, Hong Kong, Sydney, Seoul and Mexico City, oversees more than 200 infrastructure and real estate projects in 30 countries, according to its website.