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Sun Life Financial to Acquire Prime Advisors


Sun Life Financial is acquiring Prime Advisors, a US investment management firm specializing in customized fixed-income portfolios, primarily for insurance companies, with US$13B in assets under management. Sun Life says the purchase is part of a strategy to broaden its asset management operations by expanding and diversifying the capabilities of its investment management arm. Following Sun Life’s acquisition of Bentall Kennedy and Ryan Labs Asset Management, the Prime Advisors deal will grow Sun Life Investment Management's third-party assets under management to C$50B in just over a year.