Sun Life completes acquisition of InfraRed Capital Partners

By The IJ Staff | July 02 2020 01:35PM

Sun Life Financial has completed its majority stake acquisition of London-based InfraRed Capital Partners, a global infrastructure and real estate manager that advises institutional and pooled fund clients.

InfraRed, which has approximately US$12 billion (C$17 billion) in assets under management, will be part of SLC Management, Sun Life's alternatives asset management business.

The acquisition will broaden SLC Management's investment solutions for institutional clients to include infrastructure equity and advance sustainable investment options.

Confident in infrastructure investing

"We're excited to complete the acquisition of InfraRed," said Steve Peacher, president, SLC Management. "While the current global environment continues to test all industries and financial markets, we're very confident about the long-term growth in infrastructure investing. The increased demand for infrastructure around the world has not dissipated. Infrastructure investing remains well-positioned, presenting many opportunities for enhancing societies in a post-COVID-19 world."

Peacher added that this transaction also presents opportunities within renewable infrastructure in North America. "We believe there is a compelling case for investing in renewable infrastructure, such as wind farms and solar energy, which can also have a positive impact on the world."

Deal is an important milestone for InfraRed

Werner von Guionneau, CEO, InfraRed, said the agreement represents an important milestone in his company’s journey and ongoing evolution, including the launch of a North American renewable infrastructure fund.

With the transaction closed, Sun Life acquires an 80% interest in InfraRed. InfraRed's owners have a put option to sell their remaining interest to Sun Life in 2024 and Sun Life has the option to call any remaining interest by the end of 2025.

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