Now that SLC executive chair Steve Peacher has acquired much of what he set out to buy, he says the diverse group of asset managers that SLC owns will start to work together under a more co-ordinated business model
After 10 years of acquiring powerhouse alternative asset managers, SLC Management is shifting focus to boosting its profits by 20 per cent over the next three to five years., has spent about $2-billion over the past decade to outbid competitors and snap up a series of well-known alternative asset names, such as real estate investors Bentall Kennedy and GreenOak, and private credit provider Crescent Capital.
During a recent investor day, Sun Life chief executive officer Kevin Strain said the company no longer refers to itself as “just an insurance company” – but as an asset manager as well, and he believes that the investment arm will be a pivotal part of the company’s growth strategy. “What we are seeing is clients want to do more with fewer managers,"Mr. Kalsi told the audience. “They are overwhelmed. They are trying to do a lot with smaller teams. So, this is a big competitive advantage for us and everyone else in the industry. So that scale is beneficial.”
Previously, retail investors generally could not get access to private markets. But with regulatory rules easing for the sale of alternative investments, some private firms have spent years crafting new products or partnerships that will help them infiltrate retail markets in hopes of offering high-net-worth investors an alternative to investing in publicly traded markets.
In 2019, SLC bought a stake in global real estate investment company GreenOak Real Estate, and merged it with Bentall Kennedy. The deal gave SLC a 56-per-cent stake in the newly formed real estate investment management firm, BentallGreenOak. In Canada, the route to the retail market has been a bit slower. It’s been 14 months since the Scotiabank partnership was announced and the launch of an investment strategy in private credit and infrastructure for accredited retail investors is under way.
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