Freshfields Bruckhaus Deringer (‘Freshfields’) is advising Sun Life Financial Inc. (‘Sun Life’) on the sale of SLF of Canada UK Limited (‘Sun Life UK’) to Phoenix Group Holdings plc (‘Phoenix Group’) which completed today.

As part of the sale, Sun Life will begin a long-term partnership to become a strategic asset management partner to the Phoenix Group. Sun Life’s asset management companies will continue to manage approximately C$8 billion of Sun Life UK’s general account. Sun Life will also retain its economic interest in Sun Life UK’s payout annuities business.

The Freshfields team was led by global transactions partners George Swan and Lauren Honeyben, assisted by counsel Mac Mackenzie, senior associate Jonathan Carver and associate Brandon Thompson.