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Berkshire Global Advisors acted as financial advisor to Sun Life Financial
  • has acquired a majority interest in
  • Berkshire Global Advisors acted as financial advisor to Sun Life Financial

  • Date: October 2020
  • Sector: Private Markets – Private Equity / Credit
  • Sub-Sector: Credit
  • Region: North America
  • Seller AUM: $28 Billion
  • Seller Details:
    Crescent is a global credit investment manager with approximately US$28 billion of assets under management. For nearly 30 years, the firm has focused on below investment grade credit through strategies that invest in marketable and privately-originated debt securities including senior bank loans, high yield bonds, as well as private senior, unitranche, and junior debt securities. Crescent is headquartered in Los Angeles with offices in New York, Boston, and London and more than 180 employees globally.

    Buyer Details:
    Sun Life is a leading international financial services organization providing insurance, wealth and asset management solutions to individual and corporate Clients. Sun Life has operations in a number of markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia and Bermuda. As of June 30, 2020, Sun Life had total assets under management of $1,122 billion.

    Transaction Summary:
    Crescent will form part of SLC Management, Sun Life’s alternatives asset management business. The acquisition will extend SLC Management’s solutions in alternative credit, which will benefit existing and prospective clients. Crescent will continue to operate independently under its current leadership and will retain its distinct brand, office locations and clients.

    Sun Life has built a leading private markets investment management capability over the past eight years through the acquisition of real estate managers Bentall Kennedy and GreenOak; infrastructure manager InfraRed; and previously Ryan Labs and Prime Advisors.