Sun Life Acquires Bentall Kennedy in $560M Deal
Sun Life Financial has acquired real estate investment manager Bentall Kennedy Group for $560M. Bentall Kennedy will become a unit of Sun Life Investment Management and the two firms will combine their real estate investment management teams. Sun Life has been looking to expand its investment management unit, which provides investment services to third parties. The combined teams will serve over 550 institutional clients and investors and have over $47B in assets under management. The deal is expected to close in Q3, subject to standard closing and regulatory requirements.