Manulife Investment Management Achieves Milestone with New Fund
Manulife Investment Management Finalizes $1.1 Billion Fund
Manulife Investment Management (MFC) has reported the successful closing of the Manulife Co-Investment Partners III, L.P. With a remarkable total of $1.1 billion raised, this new fund significantly surpasses the initial goal of $750 million and exceeds the previous fund's amount by over $300 million.
Successful Fundraising Strategy
This achievement reflects the ongoing success of Manulife IM’s co-investment strategy, which is underpinned by the firm's established primary funds platform and strong relationships with a global consortium of over 200 sponsor partners. The primary aim of this strategy is to enable institutional investors to gain direct access to high-quality private equity opportunities in middle market companies. These opportunities are sourced through general partner relationships and are managed by an experienced investment team known for its disciplined and selective approach.
Diverse Investor Participation
The fund has attracted a wide and varied global investor base, which includes public and corporate pension funds, insurance companies, asset managers, financial institutions, and family offices. Furthermore, Manulife's own General Account has made a substantial capital commitment towards this fund, reinforcing the strategic alignment with its investors.
Leadership Comments on the Fundraise
Vipon Ghai, CPA, CMA, CFA, who is the global head of private equity and credit at Manulife IM, expressed enthusiasm regarding the successful fundraising of their third co-investment vehicle. He emphasized the significant increase in commitments from the previous fund and extended gratitude to both new and returning investors for their trust and partnership, which has been pivotal for this significant milestone.
Continued Commitment to Strategy
Scott Garfield, senior managing director and head of North American private equity at Manulife IM, echoed similar sentiments, stating that this fundraise is a testament to their consistent strategy, highly experienced team, and the robust strength of their sponsor network.
Expanding Private Equity and Credit Management
With this latest addition, Manulife IM's private equity and credit platform now manages over $28 billion in total assets. These assets span a diverse array of instruments including primary funds, co-investments, secondaries, as well as senior and junior credit—all part of a broader private markets platform that also comprises infrastructure, real estate, timberland, and agricultural investments.
About Manulife Wealth & Asset Management
As part of Manulife Financial Corporation, Manulife Wealth & Asset Management is dedicated to providing exceptional global investment, financial advice, and retirement plan services to approximately 19 million individuals and institutions around the globe. The organization's mission centers on making financial decisions easier and improving lives by helping individuals take action today to secure a better tomorrow.
Contact Information
For further inquiries, contact:
Elizabeth Bartlett
Manulife Investment Management
Elizabeth_Bartlett@manulife.com
Frequently Asked Questions
What is the total amount raised by Manulife's new fund?
The latest fund raised a total of $1.1 billion, which surpassed the initial target of $750 million.
What is the focus of Manulife's co-investment strategy?
Manulife's co-investment strategy is aimed at providing institutional investors access to high-quality private equity opportunities.
What types of investors participated in the fund?
The fund attracted a diverse range of investors, including public and corporate pension funds, insurance companies, and family offices.
Who commented on the success of the fundraising?
Vipon Ghai and Scott Garfield from Manulife IM shared their thoughts on the successful fundraising and the strategy's effectiveness.
How much does Manulife IM manage in private equity and credit assets?
Manulife IM manages over $28 billion in assets across various investment types.
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