Strategic Acquisition of Comvest Partners by Manulife Panel
Strategic Acquisition Announcement
AMG has recently made a significant move in the investment management sector by announcing the sale of its interest in Comvest Partners' private credit business to Manulife Financial Corporation. This development highlights the potential of AMG's partnership model in enhancing the growth of its affiliate firms.
Comvest Partners: A Leader in Private Credit
With over twenty-five years in operation, Comvest Partners has established itself as a premier private equity and direct lending investment firm. They focus on fulfilling the capital requirements of North American middle-market companies, showcasing a robust track record in the industry.
Growth and Expansion with AMG
Since its partnership with AMG began, Comvest's assets under management have skyrocketed from $2 billion to an impressive $14 billion. This explosive growth was fueled by AMG's strategic assistance, which provided both financial resources and access to critical capital formation tools.
Leadership Views on the Partnership
Jay C. Horgen, the CEO of AMG, expressed pride in the partnership's success, stating that it was aimed at amplifying the long-term success of its affiliates. He emphasized the goal of aligning interests among partners to yield favorable outcomes for all involved.
Comments from Comvest’s Leadership
Michael Falk, the Founder and Executive Chairman of Comvest, echoed similar sentiments, stating that their choice to partner with AMG stemmed from its ability to enhance growth while ensuring Comvest's independence. He noted that AMG's engagement has made a significant impact on their competitive positioning.
Transaction Details
The agreement stipulates that AMG is set to receive approximately $285 million in cash, pending specific closing adjustments. This transaction reflects a notable gain for AMG and includes retaining interests in certain private credit funds and Comvest's private equity operations.
Closing Timeline and Expectations
It is anticipated that this strategic transaction will close in the fourth quarter of 2025, contingent on customary closing conditions being satisfied. This move is expected to enhance the market positions of both AMG and Comvest moving forward.
About AMG
AMG operates as a strategic partner for leading independent investment management firms globally. The firm's mission is to create long-term value by investing in credible partner-owned firms and optimizing resources across high-growth and high-return areas. As of mid-2025, AMG has amassed approximately $771 billion in aggregate assets under management, spanning a variety of investment strategies.
Frequently Asked Questions
What does the acquisition of Comvest Partners entail?
The acquisition involves Manulife purchasing AMG's interest in Comvest's private credit business, reflecting a strategic move to enhance investment capabilities.
How has AMG supported Comvest’s growth?
AMG provided critical growth capital and access to capital formation resources, helping Comvest expand its assets under management significantly.
What are the financial details of the transaction?
AMG is expected to receive around $285 million in cash from the acquisition, with potential adjustments pending the deal's closure.
When is the acquisition expected to close?
The closing is projected for the fourth quarter of 2025, subject to normal closing conditions being met.
What is AMG’s overall strategy in the investment management field?
AMG focuses on generating long-term value by investing in high-quality, independent firms and extending their strategic capabilities to support growth.
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