Sun Life Financial (TSX:SLF) To Acquire Majority Stake In Crescent Capital (CCAP:US)

 

  • Sun Life is set to acquire a 51 per cent interest in Crescent Capital for up to C$ 450 million.
  • The transaction will comprise C$370 million as upfront payment and a payment of C$80 million in the future based on achievement of certain milestones.
  • Sun Life also plans to co-invest up to C$1 billion in Crescent’s investment strategies.
  • Headquartered in Los Angeles, Crescent had approximately C$38 billion in assets under its management as of June 30, 2020.

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