The Toronto firm’s asset management arm has been presenting itself as “a platform like a Blackstone,” Apollo or Ares, said SLC Management executive chair Steve Peacher in a second quarter earnings call, its first full quarter since restructuring that part of the business. (The Logic)

Talking point: Sun Life is building its presence as an institutional investor amid pressure on other divisions. Shares fell about two per cent on Friday afternoon, despite a 41 per cent year-over-year jump in net income. Analysts questioned executives about stop-loss insurance earnings, as well as a tax crackdown in China targeting wealthy investors. Sun Life said about 30 per cent of its Hong Kong clients are from mainland China, but fewer are high-net-worth clients. On the asset management side, the company doubled assets managed by an India-based arm during the quarter. And, despite a broader pullback in the private credit market, Sun Life said it completed the largest-ever private credit secondaries deal, at US$3.2 billion.  

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