The Globe and Mail reports in its Tuesday edition that the asset management division of Canada's second-largest insurer, Sun Life, is shelling out nearly $3-billion to acquire the remaining stakes of its private credit and real estate management businesses, while adding a new U.S. multifamily real estate and property manager to its roster. The Globe's Clare O'Hara writes that SLC Management announced Monday it is set to pay $2.4-billion to purchase the remaining equity interests in BGO, the insurers' global real estate investor and provider of real estate services, and in its private credit provider Crescent Capital Group. In a separate transaction, the insurer will spend another $350-million to acquire 100 per cent of Bell Partners, a U.S.-based multifamily real estate investment and property management business that will operate under BGO. At least 75 per cent of the Bell purchase will be payable in Sun Life shares. Sun Life chief executive officer Kevin Strain said BGO and Crescent are "integral" to the overall growth strategy for Sun Life Asset Management, which manages about $260-billion of assets for more than 1,400 institutional clients globally and another $165-billion of Sun Life's general account assets.