Sun Life buys U.S. asset manager Ryan Labs

Wed Jan 28, 2015 9:49am EST
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TORONTO Jan 28 (Reuters) - Sun Life Financial Inc will buy New York-based Ryan Labs Asset Management in a deal the Canadian insurer hopes will help it win more business with U.S. pension funds and other institutional investors, Sun Life said on Wednesday.

Toronto-based Sun Life did not disclose the value of the deal for Ryan Labs, which specializes in liability driven investing and total return fixed-income strategies. It said the acquisition would not be material to its results.

The companies said Ryan Labs has about $5.1 billion in assets under management for clients across the United States.

(Reporting by Jeffrey Hodgson; Editing by Chizu Nomiyama)