Sun Life completed the acquisition of a 51% stake in Crescent Capital Group for $338m.

Sun Life, an international financial services organization, completed the acquisition of a 51% stake in Crescent Capital Group, a global credit investment manager, for $338m. Crescent forms part of SLC Management, Sun Life's alternatives asset management business. The acquisition will extend SLC Management's solutions in alternative credit. "This partnership represents the next stage of growth for Crescent. In getting to know the team at Sun Life and SLC Management, we feel confident our clients will benefit from the significant seed capital they are providing, their deep understanding of the asset management business, and commitment to Crescent retaining full investment and operational independence of the firm," Mark Attanasio, Crescent Capital Group Co-Founder and Managing Partner.