Latest institutional insights

 

2025 Global Investment Outlook

The year ahead could be one of macro uncertainty, but also of potential opportunities, investment ideas and renewal in certain asset classes. Check out insights from our investment specialists from SLC Management, BGO, InfraRed and Crescent Capital.

What keeps institutional investors up at night?

Steve Peacher, president of SLC Management, asks those in the know three relevant questions in five minutes or less. Listen to “Three in Five” on Apple, Spotify and Google Podcasts.

Explore more insights

  • May 13, 2025

    Q1 2025: Investment Grade Private Credit update

    Credit markets reported considerable year-over-year deal activity, with investor demand a principal driver. Meanwhile, continued development, expansion and innovation in the asset-backed finance (ABF) space requires a renewed perspective into the possible benefits and risks of these investments.

  • February 11, 2025

    Q4 2024: Inflation Watch

    In this issue, we discuss the uncertainty caused by trade tensions, some cooling in shelter prices and effects of the Canadian government’s tax moves.

  • February 10, 2025

    Q4 2024: Investment Grade Private Credit update

    Strong October issuance led to a strong fourth quarter of 2024. Meanwhile, business development companies (BDCs) continue to grow as potential opportunities for IG private credit investors.

  • January 30, 2025

    2025 Global Investment Outlook

    Welcome to SLC Management’s investment outlook for 2025. In this report, our investment teams and solutions providers discuss public and private fixed income, real estate, infrastructure, insurance asset management and retirement plans.

  • November 27, 2024

    Q3 2024: Investment Grade Private Credit update

    Amid continuing pressures on social infrastructure, SLC Management discusses investor opportunities to enhance returns, while advancing public interest initiatives.

  • November 12, 2024

    Strategic allocation for insurers in a changing environment

    Check out these insights from Louis Pelosi, Managing Director, Client Solutions at SLC Management. Louis was a special guest on the Insurance AUM podcast, where he discussed the unique needs of clients in the insurance asset management business, managing asset allocations against liabilities and more.

  • October 31, 2024

    Building more resilient portfolios with alternative fixed income

    Welcome to our Canadian Insurance Newsletter, where we deliver insights on industry trends, regulatory updates and investment strategies relevant for insurance professionals.

  • December 10, 2024

    Perspectives on fund finance: opportunities and challenges

    Fund finance, which includes strategies such as net asset value (NAV) lending, has become a fast growing tool employed by asset managers seeking financing and for institutional investors seeking potential risk–return benefits. Gain further insights from our investment team: 

  • September 30, 2024

    IG private credit and solutions to LDI challenges

    LDI programs often face a tradeoff between hedging liabilities and enhancing diversification, among other competing goals. Our investment team discusses how IG private credit can help solve the conundrum.

  • September 20, 2024

    Risk, capital and returns: insights into insurance

    Our insurance specialists discuss how a multitude of risk components can affect an insurer’s capital structure, returns and ability to generate shareholder value. Read more on our latest insights.

  • November 14, 2024

    Q3 2024: Inflation Watch

    In this issue, we discuss cooling inflation, price softness across several CPI categories and alternatives to RRBs in inflation hedging.

  • May 17, 2024

    Q1 2024: Inflation Watch

    In this issue, we discuss cooling inflation, decreasing liquidity in real return bonds (RRB), and why the cost of implementing a U.S. based inflation strategy has increased.

  • August 15, 2024

    Q2 2024: Investment Grade Private Credit update

    With investors increasingly looking into the potential benefits of NAV lending, SLC Management takes a closer look at this asset class.

  • August 08, 2024

    Q2 2024: Inflation Watch

    In this issue, we discuss cooling inflation, decreasing liquidity in real return bonds (RRB), and alternatives to RRBs in inflation hedging.

  • July 22, 2024

    2024 Mid-year Global Investment Outlook

    Welcome to SLC Management’s investment outlook for the mid-year point of 2024. Learn more about what our investment teams and solutions providers expect for public and private fixed income, real estate, infrastructure, insurers and retirement plans.

  • May 30, 2024

    Canadian Pension Risk Strategies 2024

    SLC Management joined this year’s Pensions & Investments Canadian Pension Risk Strategies (CRISK) events to share insights and help institutional investors navigate the complexities of private markets.

  • May 17, 2024

    Q1 2024: Inflation Watch

    In this issue, we discuss cooling inflation, decreasing liquidity in real return bonds (RRB), and why the cost of implementing a U.S. based inflation strategy has increased.

  • May 16, 2024

    Q1 2024: Investment Grade Private Credit update

    Market statistics for the private placement market sourced from Private Placement Monitor, a standard proxy for the IG private credit market.

    Robust volumes, greater demand from a growing investor base and tightening spreads characterized private credit during the first quarter. New investors coming into the market has also led to increased market capacity and larger deal sizes. Meanwhile, fund finance has emerged as a growing, evolving sector for institutional investors looking for potential diversification, investment premiums and risk managed performance.

  • April 22, 2024

    Looking under the hood at below-IG fixed income

    At the beginning of 2024 there was little solid consensus on the direction of interest rates. Expectations for federal bank actions ranged from rate decreases for earlier in the year to rates remaining high until at least 2025. Such uncertainty can make things difficult for fixed income investors, as in many cases bond yields are highly correlated to interest rates.

  • February 14, 2024

    Q4 2023: Investment Grade Private Credit update

    Investment grade (IG) private credit volume in Q4 2023 was the strongest for the year at US$28.6 billion, bouncing back from US$14.1 billion in Q3 2023, the lowest quarterly volume of the year. While we won’t know final results for a few months, preliminary 2023 volume of US$90.7 billion fell short of US$92.3 billion in 2022. Issuers that had something to get done came to market in the last quarter and investors responded positively. This was in contrast to much of 2023 when issuers were put off by high rates or market uncertainty and investors were either less liquid or more cautious immediately after the failure of Silicon Valley Bank.

  • February 12, 2024

    2024 Global Investment Outlook

    Welcome to SLC Management’s investment outlook for 2024. In this report, our investment teams and solutions providers discuss public and private fixed income, real estate, infrastructure, insurance asset management and retirement plans.

  • November 16, 2023

    Narrowly syndicated credit: yield opportunities in an underexplored niche

    A volatile economic and market environment has led to increased interest among institutional investors for more diversified credit exposure. One segment of the credit market that’s often overlooked is the narrowly syndicated credit (NSC) space, which can offer the potential for higher yields with reduced volatility characteristics.

  • November 13, 2023

    September 2023: Inflation watch

    In this issue, we discuss the continued increase in headline CPI, a burst in RRB trading volume in Q3, and why implementing a U.S. based inflationary strategy could be expensive for Canadian investors.

  • November 01, 2023

    Q3 2023: Investment Grade Private Credit update

    In a slow quarter for the investment grade (IG) private credit market, robust industrial and utility sector issuance helped support volume amid decreased financial issuance. We are seeing a possible turnaround in decreasing IG private credit demand to date as markets begin to adopt “higher for longer” rate expectations. Meanwhile, we are taking a closer look at infrastructure debt investments amid increased focus on the diversification, risk management and other potential benefits of the asset class.

  • September 05, 2023

    July 2023: Inflation watch

    In this issue, we discuss the unexpected increase in headline CPI in July and the significant decrease in RRB trading volume.

  • August 21, 2023

    Q2 2023: Investment Grade Private Credit update

    Issuance of investment grade private credit (IG private credit) proved resilient in Q2 2023, with the market providing some respite during uncertainty in the public debt space. H1 2023 issuance, however, is still behind that of the same period last year, largely due to a decrease in volume in financials. Amid other promising sectors, we see potential value in asset-backed securities (ABS), in particular senior IG ABS. From a volume and return perspective, 2023 could be an especially strong year for ABS investors, in our view.  

  • August 21, 2023

    Q2 2023: Investment Grade Private Credit update

    Issuance of investment grade private credit (IG private credit) proved resilient in Q2 2023, with the market providing some respite during uncertainty in the public debt space. H1 2023 issuance, however, is still behind that of the same period last year, largely due to a decrease in volume in financials. Amid other promising sectors, we see potential value in asset-backed securities (ABS), in particular senior IG ABS. From a volume and return perspective, 2023 could be an especially strong year for ABS investors, in our view.  

  • August 01, 2023

    2023 Mid-year Global Investment Outlook

    Welcome to SLC Management’s investment outlook for mid-year 2023. In this report, our investment teams and solutions providers share their insights, analyses and perspectives on public and private fixed income, real estate, infrastructure, insurance asset management and retirement plans.

  • September 24, 2021

    P&I Canadian Pension Risk Strategies insights and solutions

    Funded statuses are at record highs and rising interest rates are affecting expected bond yields. Learn why it’s a great time to take action to preserve your plan’s financial health. 

  • April 08, 2021

    Opportunities across the private credit spectrum

    Listen to Insurance AUM’s latest podcast, where SLC Management’s Andrew Kleeman and Crescent Capital Group’s Chris Wright and John Bowman discuss opportunities for insurers across the private credit spectrum.

  • February 10, 2021

    PM Perspectives: A new era of inflation?

    Our PM’s discuss the prospects of inflation and potential effects on U.S. markets.

  • September 23, 2020

    Why private credit appeals to ESG investors

    Investors wanting to meet environmental, social and governance criteria are looking closely at private credit but are also wanting to see more rigorous reporting and measurement.

  • July 09, 2020

    Stimulus Checks Are Not Helping The U.S. Economy, Here’s What Can.

    As unemployment spiked this spring, the U.S. government put its faith in the $500 billion of loans to small businesses from the Paycheck Protection Program (PPP). Yet this huge wave of stimulus did little to secure jobs, according to preliminary results from a study by economist Raj Chetty and his team at Harvard.

  • March 31, 2020

    Rebalancing and re-risking in turbulent Canadian markets

    For many plan sponsors March proved to be a perfect storm of negative conditions, as equity markets fell dramatically and interest rates hit record lows. While widening credit spreads provide some relief in terms of higher discount rates, many liability hedging portfolios, holding the broad spectrum of bonds, may have underperformed liabilities valued under the annuity proxy.

  • February 25, 2020

    Shrinking U.S. Public Market Is Boosting Corporate Profits

    With another uneventful earnings season coming to a close, the long stretch of near-record corporate profit margins is making investors nervous that a correction is brewing. That anxiety seems overdone. There is mounting evidence that large U.S. companies are more resilient than ever.

  • February 10, 2020

    The Coronavirus Threat To Supply Chains Is A Big Risk

    Superbugs that resist treatment and spread rapidly like Coronavirus always catch the headlines. The market impact of most viruses tends to be intense, but it soon fades. However, this round is different, and investors could be underestimating the longer-term impact of this latest health emergency on global supply chains.

  • June 01, 2019

    Pension plans in Canada: the state of the ESG nation

    We surveyed decision-makers from 50 Canadian institutional pension plans about sustainable investing. While ESG issues remain a hot topic for discussion, not all plans are putting ESG talk into action.

  • August 20, 2018

    Ten years past the global financial crisis: Lessons learned in fixed income

    With the approaching anniversary of the global financial crisis, an important metric is being reset: the 10-year performance track record. Asset managers will, starting very soon, no longer have 2008 on their 10-year historical performance charts. With its disappearance, an elementary but key gauge of risk management will vanish as well.

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About SLC Management

SLC Management is the brand name for the institutional asset management business of Sun Life Financial Inc. (“Sun Life”) under which Sun Life Capital Management (U.S.) LLC in the United States, and Sun Life Capital Management (Canada) Inc. in Canada operate.

Sun Life Capital Management (Canada) Inc. is a Canadian registered portfolio manager, investment fund manager, exempt market dealer and in Ontario, a commodity trading manager. Sun Life Capital Management (U.S.) LLC is registered with the U.S. Securities and Exchange Commission as an investment adviser and is also a Commodity Trading Advisor and Commodity Pool Operator registered with the Commodity Futures Trading Commission under the Commodity Exchange Act and Members of the National Futures Association.

BentallGreenOak, InfraRed Capital Partners (InfraRed) and Crescent Capital Group (Crescent), and Advisors Asset Management are also part of SLC Management.

BentallGreenOak is a global real estate investment management advisor and a provider of real estate services. In the U.S., real estate mandates are offered by BentallGreenOak (U.S.) Limited Partnership, who is registered with the SEC as an investment adviser, or Sun Life Institutional Distributors (U.S.) LLC, an SEC registered broker-dealer and a member of the Financial Industry Regulatory Authority (“FINRA”) . In Canada, real estate mandates are offered by BentallGreenOak (Canada) Limited Partnership, BGO Capital (Canada) Inc. or Sun Life Capital Management (Canada) Inc. BGO Capital (Canada) Inc. is a Canadian registered portfolio manager and exempt market dealer and is registered as an investment fund manager in British Columbia, Ontario and Quebec.

InfraRed Capital Partners is an international investment manager focused on infrastructure. Operating worldwide, InfraRed manages equity capital in multiple private and listed funds, primarily for institutional investors across the globe. InfraRed Capital Partners Ltd. is authorized and regulated in the UK by the Financial Conduct Authority.

Crescent Capital Group is a global alternative credit investment asset manager registered with the U.S. Securities and Exchange Commission as an investment adviser. Crescent provides private credit financing (including senior, unitranche and junior debt) to middle-market companies in the U.S. and Europe, and invests in high-yield bonds and broadly syndicated loans.

Securities will only be offered and sold in compliance with applicable securities laws.

AAM is an independent U.S. retail distribution firm that provides a range of solutions and products to financial advisors at wirehouses, registered investment advisors and independent broker-dealers.

Website content

The content of this website is intended for institutional investors only. It is not for retail use or distribution to individual investors. All investments involve risk including the possible loss of capital. All asset classes have associated risks. Certain asset classes are speculative, can include a high degree of risk and are suitable only for long-term investment. Further information available upon request. This website is for informational and educational purposes only. Past performance is not a guarantee of future results.

The information contained in this website is not intended to provide specific financial, tax, investment, insurance, legal or accounting advice and should not be relied upon and does not constitute a specific offer to buy and/or sell securities, insurance or investment services. Investors should consult with their professional advisors before acting upon any information contained on this website. The assets under management (AUM) represent the combined AUM of Sun Life Capital Management (Canada) Inc., Sun Life Capital Management (U.S) LLC, BentallGreenOak, Crescent Capital Group, InfraRed Capital Partners, and Advisors Asset Management.

AUM as of March 31, 2025. Total firm AUM includes approximately $11B in cash, other, unfunded commitments, and Advisors Asset Management equity. Total firm AUM excludes $16 billion in assets under administration by AAM.

Currency conversion rate: USD $1.00 CAD $1.4387 as of March 31, 2025.

UK Tax Strategy - InfraRed (UK) Holdco 2020 Limited

InfraRed (UK) Holdco 2020 Ltd is the UK holding company of InfraRed Partners LLP and a subsidiary of Sun Life (U.S.) Holdco 2020 Inc, which has its headquarters in the U.S. The company was incorporated to purchase InfraRed Partners LLP and acts solely as a passive holding company. The Tax Strategy for the InfraRed Holdco Group sets out our approach to the management of InfraRed Holdco Group UK tax affairs in supporting business activities in the UK. 

This UK tax strategy is published in accordance with the requirements set out in Schedule 19 of Finance Act 2016. The strategy, which has been approved by the Board of Directors of InfraRed (UK) Holdco 2020 Ltd, is effective for the period ending 31 December 2024. It applies to InfraRed (UK) Holdco 2020 Ltd and its dormant subsidiary Sun Life (UK) Designated Member Ltd, referred to as the “InfraRed Holdco Group”. InfraRed Holdco Group.