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Sun Life Merges Bentall Kennedy, GreenOak
Canadian insurer Sun Life is merging its real estate investment businesses, Bentall Kennedy and GreenOak Real Estate. The move is expected to allow it to offer investors access to deals ranging from core to opportunistic.
The transaction is expected to close in the first half of 2019. The combined entity will be named Bentall GreenOak, and will be majority-owned by Sun Life Financial, operating under Sun Life Investment Management.
GreenOak Co-Founders, John Carrafiell and Sonny Kalsi, existing GreenOak senior management and GreenOak’s strategic partner Tetragon Financial Group Limited, will all continue to hold significant ownership stakes in the new firm. Bentall Kennedy’s senior management team will also acquire a meaningful ownership position in the combined firm. Senior management of the combined firm will include leaders from both Bentall Kennedy and GreenOak.
As of September 30, 2018, Bentall Kennedy and GreenOak have combined more than 700 institutional clients with roughly $47 billion USD in assets under management.
For comments, questions or concerns, please contact Dennis Kaiser
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