Berkshire Global Advisors acted as financial advisor to Advisors Asset Management
Seller Details:
Advisors Asset Management (AAM) provides a range of solutions and products to financial advisors at wirehouses, RIAs and independent broker-dealers. AAM offers access to UITs, open- and closed-end mutual funds, SMAs, structured products, the fixed income markets, portfolio analytics and ETFs. As of July 31, 2022, the brokerage and advised business at AAM represents approximately $41.4 billion in assets. Assets under supervision represent $6.1 billion in UIT assets. The firm has $31.5 billion in assets under administration that represents the non-proprietary assets for which AAM provides various levels of service, but not management. The firm’s $3.8 billion in assets under management represents AAM’s proprietary separately managed account, mutual fund and ETF assets.
Buyer Details:
Sun Life is a leading international financial services organization providing asset management, wealth, insurance and health solutions to individual and institutional 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, 2022, Sun Life had total assets under management of C$1.26 trillion.
Transaction Summary:
With the growing demand among high-net-worth (HNW) investors for alternative assets in the U.S., the acquisition of a majority stake in AAM will allow SLC Management and its affiliated investment managers, BentallGreenOak, Crescent Capital Group and InfraRed Capital Partners, to offer their investment strategies to the U.S. HNW market. The transaction is also strategic for AAM, which will expand its product roster to include a range of alternative products in commercial real estate, private credit and infrastructure.