In an attempt to capture a significant piece of the wealth management pie, one of Canada’s largest insurers has completed a deal reflecting an investor trend
Sun Life announced Tuesday that it has completed its takeover of one of the largest real estate advisors in North America -- a move marking the industry’s race to get ahead of investor trends.
"Today, Sun Life Investment Management achieved a significant milestone, adding the premier real estate investment expertise of Bentall Kennedy to our high calibre real estate and commercial mortgage investment capabilities," said Steve Peacher, President, Sun Life Investment Management, and Chief Investment Officer, Sun Life Financial. "This transaction continues to expand and diversify Sun Life Financial's asset management pillar as part of our growth strategy, and further extends and strengthens our offering to institutional investors seeking alternative asset classes."
Recently, LHP covered the ongoing discussions with New York-based Assurant about buying the specialty insurer’s group business for an estimated $900 million.
The combination of Bentall Kennedy with the previous purchase of Prime Advisors, a big asset manager south of the border, along with the pending purchase of Assurant’s employee benefits division, completely changes Sun Life’s competitiveness in the U.S. wealth management arena. It also signals the growing interest investors have in real estate.
"We are excited about the additional capabilities and resources that Bentall Kennedy will have as a Sun Life Investment Management company to further strengthen our North American real estate platform," said Gary Whitelaw, Group Chief Executive Officer of Bentall Kennedy. "We have seen overwhelmingly positive response to this next step in our evolution from our clients, from our industry and from our employees.”
See more: Life insurance giant poised for a growth spurt?
"Today, Sun Life Investment Management achieved a significant milestone, adding the premier real estate investment expertise of Bentall Kennedy to our high calibre real estate and commercial mortgage investment capabilities," said Steve Peacher, President, Sun Life Investment Management, and Chief Investment Officer, Sun Life Financial. "This transaction continues to expand and diversify Sun Life Financial's asset management pillar as part of our growth strategy, and further extends and strengthens our offering to institutional investors seeking alternative asset classes."
Recently, LHP covered the ongoing discussions with New York-based Assurant about buying the specialty insurer’s group business for an estimated $900 million.
The combination of Bentall Kennedy with the previous purchase of Prime Advisors, a big asset manager south of the border, along with the pending purchase of Assurant’s employee benefits division, completely changes Sun Life’s competitiveness in the U.S. wealth management arena. It also signals the growing interest investors have in real estate.
"We are excited about the additional capabilities and resources that Bentall Kennedy will have as a Sun Life Investment Management company to further strengthen our North American real estate platform," said Gary Whitelaw, Group Chief Executive Officer of Bentall Kennedy. "We have seen overwhelmingly positive response to this next step in our evolution from our clients, from our industry and from our employees.”
See more: Life insurance giant poised for a growth spurt?
