DL Deals: News & Analysis – 10/19/2020

Sun Life’s $338M acquisition of Crescent Capital
underscores confidence in direct lending


Sun Life Financial’s $338 million acquisition of Los Angeles-based Crescent Capital underscores investor confidence in direct lending, even as the Covid pandemic has upended global economies.

Sun Life, a Toronto-based insurance company that has a small direct lending team within its $193 billion alternative investment group SLC Management, is expanding private credit with Crescent’s $28 billion lending platform.