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    SLF   CA8667961053

SUN LIFE FINANCIAL INC.

(SLF)
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Sun Life Financial : buying majority stake in U.S. investment manager Crescent Capital

10/22/2020 | 08:45am EDT

TORONTOSun Life Financial Inc. has signed a deal to acquire a majority stake in Crescent Capital Group LP in an agreement worth up to $450 million.

Under the deal, Sun Life will acquire a 51 per cent stake in the alternative credit investment manager for an upfront payment of $370 million and up to an additional $80 million, based on the achievement of certain milestones.

Sun Life also says it has committed to co-invest up to approximately $1 billion in Crescent's investment strategies.

Crescent is focused on mezzanine debt, middle market direct lending in the U.S. and Europe, high-yield bonds and broadly syndicated loans.

The firm, which is based in Los Angeles, had approximately $38 billion in assets under management as of June 30.

It is expected to continue operating independently under its current leadership.

This report by The Canadian Press was first published Oct. 22, 2020.

Companies in this story: (TSX:SLF)

© 2020 The Canadian Press. All rights reserved., source Canadian Press DataFile

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Financials
Sales 2021 27 793 M 22 458 M 22 458 M
Net income 2021 3 431 M 2 773 M 2 773 M
Net Debt 2021 - - -
P/E ratio 2021 10,8x
Yield 2021 3,56%
Capitalization 36 720 M 29 673 M 29 672 M
Capi. / Sales 2021 1,32x
Capi. / Sales 2022 1,00x
Nbr of Employees 23 816
Free-Float 86,4%
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Technical analysis trends SUN LIFE FINANCIAL INC.
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 15
Average target price 70,57 CAD
Last Close Price 62,71 CAD
Spread / Highest target 24,4%
Spread / Average Target 12,5%
Spread / Lowest Target -2,73%
EPS Revisions
Managers and Directors
NameTitle
Dean A. Connor Chief Executive Officer & Director
Kevin D. Strain President & Director
Manjit Singh Chief Financial Officer & Executive Vice President
William D. Anderson Chairman
Stevan Lewis Chief Technology Officer & Senior Vice President
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