Sun Life Financial Inc. (TSX:SLF) asset management unit is eyeing its first middle-market private-debt acquisition as it seeks to expand into the higher-yielding investments, one of its top executives told Reuters. “Right now, our capability is really focused on the investment grade part of the private debt market,” Randy Brown, Head of insurance Asset Management at SLC Management, said in an interview. “But there’s the whole lower-rated spectrum within the private debt market. I could see us either acquiring a team or an asset manager focused on that part of the market.” Brown declined to say how much SLC was willing to spend on a deal. The firm will focus on higher-quality middle-market issuers with strong covenant protection, said Brown, who is also Chief Investment Officer at Sun Life. It may also reallocate risk from elsewhere in its portfolio to remain close to current levels, he added.