<SEC-DOCUMENT>0001104659-24-111143.txt : 20241024
<SEC-HEADER>0001104659-24-111143.hdr.sgml : 20241024
<ACCEPTANCE-DATETIME>20241024155336
ACCESSION NUMBER:		0001104659-24-111143
CONFORMED SUBMISSION TYPE:	13F-HR
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20240930
FILED AS OF DATE:		20241024
DATE AS OF CHANGE:		20241024
EFFECTIVENESS DATE:		20241024

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SUN LIFE FINANCIAL INC
		CENTRAL INDEX KEY:			0001097362
		STANDARD INDUSTRIAL CLASSIFICATION:	LIFE INSURANCE [6311]
		ORGANIZATION NAME:           	02 Finance
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			Z4
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		13F-HR
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	028-05799
		FILM NUMBER:		241392519

	BUSINESS ADDRESS:	
		STREET 1:		SUN LIFE ASSURANCE CO OF CANADA
		STREET 2:		ONE YORK STREET
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M5J 0B6
		BUSINESS PHONE:		4169794800

	MAIL ADDRESS:	
		STREET 1:		SUN LIFE ASSURANCE CO OF CANADA
		STREET 2:		ONE YORK STREET
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M5J 0B6

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SUN LIFE FINANCIAL SERVICES INC
		DATE OF NAME CHANGE:	20030702

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SUN LIFE FINANCIAL SERVICES OF CANADA INC
		DATE OF NAME CHANGE:	20000224
</SEC-HEADER>
<DOCUMENT>
<TYPE>13F-HR
<SEQUENCE>1
<FILENAME>primary_doc.xml
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      <filer>
        <credentials>
          <cik>0001097362</cik>
          <ccc>XXXXXXXX</ccc>
        </credentials>
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      <periodOfReport>09-30-2024</periodOfReport>
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    <coverPage>
      <reportCalendarOrQuarter>09-30-2024</reportCalendarOrQuarter>
      <isAmendment>false</isAmendment>
      <filingManager>
        <name>SUN LIFE FINANCIAL INC</name>
        <address>
          <ns1:street1>Sun Life Assurance CO of Canada</ns1:street1>
          <ns1:street2>One York Street</ns1:street2>
          <ns1:city>Toronto</ns1:city>
          <ns1:stateOrCountry>A6</ns1:stateOrCountry>
          <ns1:zipCode>M5J 0B6</ns1:zipCode>
        </address>
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          <form13FFileNumber>028-04968</form13FFileNumber>
          <name>MASSACHUSETTS FINANCIAL SERVICES CO /MA/</name>
        </otherManager>
      </otherManagersInfo>
      <provideInfoForInstruction5>N</provideInfoForInstruction5>
    </coverPage>
    <signatureBlock>
      <name>Randolph Brown</name>
      <title>CIO, Sun Life</title>
      <phone>781-416-2297</phone>
      <signature>/s/ Randolph Brown</signature>
      <city>Wellesley Hills</city>
      <stateOrCountry>MA</stateOrCountry>
      <signatureDate>10-23-2024</signatureDate>
    </signatureBlock>
    <summaryPage>
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      <tableValueTotal>1792470</tableValueTotal>
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          <sequenceNumber>3</sequenceNumber>
          <otherManager>
            <cik>0001513857</cik>
            <form13FFileNumber>028-15882</form13FFileNumber>
            <name>Crescent Capital Group LP</name>
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      </otherManagers2Info>
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<DOCUMENT>
<TYPE>INFORMATION TABLE
<SEQUENCE>2
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<TEXT>
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    <nameOfIssuer>ISHARES MSCI EAFE INDEX FUND</nameOfIssuer>
    <titleOfClass>* ISHARES TR MSCI EAFE ETF</titleOfClass>
    <cusip>464287465</cusip>
    <value>4667</value>
    <shrsOrPrnAmt>
      <sshPrnamt>55802</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <votingAuthority>
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      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>ISHARES MSCI FRANCE ETF</nameOfIssuer>
    <titleOfClass>* ISHARES INC MSCI FRANCE ETF</titleOfClass>
    <cusip>464286707</cusip>
    <value>2382</value>
    <shrsOrPrnAmt>
      <sshPrnamt>58950</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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      <Sole>58950</Sole>
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  <infoTable>
    <nameOfIssuer>ISHARES MSCI GERMANY ETF</nameOfIssuer>
    <titleOfClass>* ISHARES INC MSCI GERMANY ETF</titleOfClass>
    <cusip>464286806</cusip>
    <value>522</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15425</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>15425</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>ISHARES MSCI MEXICO CAPPED ETF</nameOfIssuer>
    <titleOfClass>* ISHARES INC MSCI MEXICO ETF</titleOfClass>
    <cusip>464286822</cusip>
    <value>786</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14635</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>14635</Sole>
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    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ISHARES MSCI UNITED KINGDOM INDEX FUND</nameOfIssuer>
    <titleOfClass>* ISHARES TR MSCI UK ETF NEW</titleOfClass>
    <cusip>46435G334</cusip>
    <value>2115</value>
    <shrsOrPrnAmt>
      <sshPrnamt>56545</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>56545</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ISHARES MSCI UNITED KINGDOM INDEX FUND</nameOfIssuer>
    <titleOfClass>* ISHARES TR MSCI UK ETF NEW</titleOfClass>
    <cusip>46435G334</cusip>
    <value>8150</value>
    <shrsOrPrnAmt>
      <sshPrnamt>217848</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>217848</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SPDR S&amp;P 500 ETF TRUST</nameOfIssuer>
    <titleOfClass>* SPDR S&amp;P 500 ETF TR TR UNIT</titleOfClass>
    <cusip>78462F103</cusip>
    <value>337073</value>
    <shrsOrPrnAmt>
      <sshPrnamt>587480</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>587480</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>SPDR S&amp;P 500 ETF TRUST</nameOfIssuer>
    <titleOfClass>* SPDR S&amp;P 500 ETF TR TR UNIT</titleOfClass>
    <cusip>78462F103</cusip>
    <value>21371</value>
    <shrsOrPrnAmt>
      <sshPrnamt>37248</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>37248</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>SPDR S&amp;P 500 ETF TRUST</nameOfIssuer>
    <titleOfClass>* SPDR S&amp;P 500 ETF TR TR UNIT</titleOfClass>
    <cusip>78462F103</cusip>
    <value>4189</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7301</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>7301</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ISHARES MSCI JAPAN UCITS ETF</nameOfIssuer>
    <titleOfClass>* ISHARES INC MSCI JPN ETF NEW</titleOfClass>
    <cusip>46434G822</cusip>
    <value>6185</value>
    <shrsOrPrnAmt>
      <sshPrnamt>86459</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>86459</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>AVALONBAY COMMUNITIES INC</nameOfIssuer>
    <titleOfClass>* AVALONBAY CMNTYS INC COM</titleOfClass>
    <cusip>053484101</cusip>
    <value>33884</value>
    <shrsOrPrnAmt>
      <sshPrnamt>150427</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
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      <Shared>0</Shared>
      <None>0</None>
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    <titleOfClass>* BXP INC COM</titleOfClass>
    <cusip>101121101</cusip>
    <value>9674</value>
    <shrsOrPrnAmt>
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    <votingAuthority>
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      <Shared>0</Shared>
      <None>0</None>
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    <titleOfClass>* DIGITAL RLTY TR INC COM</titleOfClass>
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    <value>32944</value>
    <shrsOrPrnAmt>
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      <Shared>0</Shared>
      <None>0</None>
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    <value>9991</value>
    <shrsOrPrnAmt>
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      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
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      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <titleOfClass>* PROLOGIS INC. COM</titleOfClass>
    <cusip>74340W103</cusip>
    <value>27848</value>
    <shrsOrPrnAmt>
      <sshPrnamt>220524</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>220524</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>SIMON PROPERTY GROUP INC</nameOfIssuer>
    <titleOfClass>* SIMON PPTY GROUP INC NEW COM</titleOfClass>
    <cusip>828806109</cusip>
    <value>9997</value>
    <shrsOrPrnAmt>
      <sshPrnamt>59145</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>59145</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>INVESCO QQQ TRUST SERIES 1</nameOfIssuer>
    <titleOfClass>* INVESCO QQQ TR UNIT SER 1</titleOfClass>
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    <value>82806</value>
    <shrsOrPrnAmt>
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      <sshPrnamtType>SH</sshPrnamtType>
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    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>169660</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <titleOfClass>* CAMDEN PPTY TR SH BEN INT</titleOfClass>
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    <value>19706</value>
    <shrsOrPrnAmt>
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      <sshPrnamtType>SH</sshPrnamtType>
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    <otherManager>1</otherManager>
    <votingAuthority>
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      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <titleOfClass>* ISHARES INC MSCI STH KOR ETF</titleOfClass>
    <cusip>464286772</cusip>
    <value>89913</value>
    <shrsOrPrnAmt>
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      <sshPrnamtType>SH</sshPrnamtType>
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    <otherManager>1</otherManager>
    <votingAuthority>
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      <Shared>0</Shared>
      <None>0</None>
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    <shrsOrPrnAmt>
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      <sshPrnamtType>SH</sshPrnamtType>
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    <otherManager>1</otherManager>
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      <None>0</None>
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    <value>20562</value>
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      <sshPrnamtType>SH</sshPrnamtType>
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      <None>0</None>
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    <value>103223</value>
    <shrsOrPrnAmt>
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      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Shared>0</Shared>
      <None>0</None>
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    <value>41187</value>
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      <sshPrnamtType>SH</sshPrnamtType>
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      <Shared>0</Shared>
      <None>0</None>
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      <sshPrnamtType>SH</sshPrnamtType>
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      <Sole>151376</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
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    <titleOfClass>* ISHARES TR ISHS 1-5YR INVS</titleOfClass>
    <cusip>464288646</cusip>
    <value>79464</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1509000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>1509000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>REXFORD INDUSTRIAL REALTY INC</nameOfIssuer>
    <titleOfClass>* REXFORD INDL RLTY INC COM</titleOfClass>
    <cusip>76169C100</cusip>
    <value>7525</value>
    <shrsOrPrnAmt>
      <sshPrnamt>149578</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>149578</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VANGUARD S&amp;P 500 ETF</nameOfIssuer>
    <titleOfClass>* VANGUARD INDEX FDS S&amp;P 500 ETF SHS</titleOfClass>
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    <value>300033</value>
    <shrsOrPrnAmt>
      <sshPrnamt>568600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>568600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES CORE S&amp;P 500 ETF</nameOfIssuer>
    <titleOfClass>* ISHARES TR CORE S&amp;P500 ETF</titleOfClass>
    <cusip>464287200</cusip>
    <value>7268</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>12600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES CORE S&amp;P 500 ETF</nameOfIssuer>
    <titleOfClass>* ISHARES TR CORE S&amp;P500 ETF</titleOfClass>
    <cusip>464287200</cusip>
    <value>296731</value>
    <shrsOrPrnAmt>
      <sshPrnamt>514426</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>514426</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRAFTECH INTERNATIONAL LTD</nameOfIssuer>
    <titleOfClass>* GRAFTECH INTL LTD COM</titleOfClass>
    <cusip>384313508</cusip>
    <value>420</value>
    <shrsOrPrnAmt>
      <sshPrnamt>841528</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>841528</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES MSCI THAILAND ETF</nameOfIssuer>
    <titleOfClass>* ISHARES INC MSCI THAILND ETF</titleOfClass>
    <cusip>464286624</cusip>
    <value>15068</value>
    <shrsOrPrnAmt>
      <sshPrnamt>217500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>217500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES MSCI INDONESIA ETF</nameOfIssuer>
    <titleOfClass>* ISHARES TR MSCI INDONIA ETF</titleOfClass>
    <cusip>46429B309</cusip>
    <value>16126</value>
    <shrsOrPrnAmt>
      <sshPrnamt>716700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>716700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES MSCI PHILIPPINES ETF</nameOfIssuer>
    <titleOfClass>ISHARES TR MSCI PHILIPS ETF</titleOfClass>
    <cusip>46429B408</cusip>
    <value>6257</value>
    <shrsOrPrnAmt>
      <sshPrnamt>214800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>214800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES MSCI SINGAPORE ETF</nameOfIssuer>
    <titleOfClass>* ISHARES INC MSCI SINGPOR ETF</titleOfClass>
    <cusip>46434G780</cusip>
    <value>27464</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1239900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>1239900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES MSCI MALAYSIA ETF</nameOfIssuer>
    <titleOfClass>* ISHARES INC MSCI MLY ETF NEW</titleOfClass>
    <cusip>46434G814</cusip>
    <value>15097</value>
    <shrsOrPrnAmt>
      <sshPrnamt>558100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>558100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MISTER CAR WASH INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>60646V105</cusip>
    <value>62011</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9269238</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>3</otherManager>
    <votingAuthority>
      <Sole>9269238</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRADED FD TR II SR LN ETF</nameOfIssuer>
    <titleOfClass>SR LN ETF</titleOfClass>
    <cusip>46138G508</cusip>
    <value>44959</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2145000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>3</otherManager>
    <votingAuthority>
      <Sole>2145000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
</informationTable>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
