Manulife Investment Management Achieves $1.1B Fund Milestone
Manulife Investment Management Closes Significant Fund
Manulife Investment Management (Manulife IM) has proudly announced the successful closure of its third co-investment fund named Manulife Co-Investment Partners III, L.P. This fund has garnered an impressive total of $1.1 billion, which surpasses the target of $750 million by a remarkable margin and exceeds the previous fund raised in 2021 by over $300 million.
Successful Fundraising Strategy
This achievement signifies the continued success of Manulife IM's proactive fundraising approach, focusing on a robust co-investment strategy. The strategy leverages the firm’s long-established primary funds platform and nurtures strong relationships with a network of over 200 sponsor partners globally. These relationships enhance opportunities for institutional investors to access high-quality private equity investments specifically directed towards middle market companies.
Attracting a Diverse Investor Base
The fund attracted a diverse range of global investors, including public and corporate pension funds, insurance companies, asset managers, financial institutions, and family offices. A notable capital commitment came from Manulife's General Account, which aligns strategically with the fund's goals and investor interests.
Vipon Ghai, CPA, CMA, CFA, the global head of private equity and credit at Manulife IM, expressed his excitement regarding the successful fundraising. He acknowledged, "The significant increase in commitments from our previous fund reflects our investors' ongoing trust and partnerships, leading to this important accomplishment."
Strong Team and Network
Scott Garfield, senior managing director and head of North American private equity at Manulife IM, noted, "This fundraise demonstrates the effectiveness of our consistent strategy, our experienced team, and the strength of our sponsor network with whom we collaborate. We look forward to providing investors with diversified private equity options in the future."
Overview of Assets Under Management
Currently, Manulife IM’s private equity and credit sector manages assets exceeding $28 billion. This includes funded capital and unfunded commitments, demonstrating the scale and impact of their investment platform which spans primary funds, co-investments, secondaries, and senior/junior credit supply.
Comprehensive Investment Services
Manulife Wealth & Asset Management, part of the larger Manulife Financial Corporation, is dedicated to providing comprehensive investment and retirement plan services to approximately 19 million individuals and institutions around the world. The organization's mission centers on simplifying investment decisions and improving financial lives.
Frequently Asked Questions
What is the total amount raised by Manulife IM's latest fund?
Manulife IM's latest fund, Manulife Co-Investment Partners III, L.P., raised a total of $1.1 billion.
How does this fund compare to previous funds?
This fund surpasses its $750 million target and exceeds the previous fund raised in 2021 by over $300 million.
Who invested in the Manulife IM fund?
A diverse array of global investors participated, including pension funds, insurance firms, asset managers, and family offices.
What is the role of the sponsor network?
The sponsor network aids in sourcing high-quality private equity opportunities, enhancing investment access for institutional clients.
What services does Manulife Wealth & Asset Management offer?
They provide global investment advice, financial strategies, and retirement planning services aimed at improving clients' financial futures.
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