Manulife Investment Management's Landmark Fundraising Achievement
Largest fundraise to date for its growing Private Markets Platform
Manulife Investment Management (Manulife IM) proudly announced the successful final close of its infrastructure fund, raising an impressive US $5.5 billion. This milestone not only exceeded the firm's initial fundraising target but also marks the largest amount raised in the history of Manulife IM.
The third flagship infrastructure fund, known as Manulife Investment Management Fund III, L.P. ("MIF III"), is committed to investing in high-quality core-plus infrastructure assets primarily located in North America. This robust fundraising success highlights the firm's strong reputation in executing mid-market infrastructure strategies, built over 20 years of delivering robust risk-adjusted returns to investors.
Anne Valentine Andrews, the global head of private markets at Manulife IM, expressed her excitement regarding this achievement: "We are pleased to announce this milestone, congratulating the infrastructure team on another successful fund close and this accomplishment for our Private Markets platform. This is the largest fund that Manulife IM has raised to date. We're witnessing significant momentum in the business, and it's a particularly thrilling time in the infrastructure sector, which continues to be a key part of long-term investment strategies for many seeking diversified returns."
Recep Kendircioglu, the global head of infrastructure at Manulife IM, shared insights on the market response: "The tremendous interest in our strategy since launching our first Infrastructure Fund in 2018 has led to our being oversubscribed across all offerings. The strategic holdings from our initial two funds instilled confidence in potential investors for Fund III amidst various macroeconomic challenges and geopolitical uncertainties. Our team's focus is on sourcing unique opportunities that are designed to endure market fluctuations and capitalize on the upward momentum of existing trends in the infrastructure assets sector."
To date, MIF III has initiated 11 investments, and the investment team appears well-prepared to capitalize on a strong pipeline of opportunities within the North American mid-market landscape.
Avyanna De Biswas, head of infrastructure investor relations at Manulife IM, mentioned, "Investor enthusiasm for MIF III underscores their confidence in our North American approach. We are thankful for the continued support from those who have accompanied us since Fund I, and we warmly welcome new investors who share belief in our disciplined strategy and our commitment to delivering impressive returns."
In terms of operational support, Campbell Lutyens served as the fundraising placement agent for Manulife IM, while Ropes & Gray provided legal counsel, and Deloitte acted as the tax advisor during this fundraising endeavor.
About Manulife Wealth & Asset Management
As a division of Manulife Financial Corporation, Manulife Wealth & Asset Management offers global investment, financial advisory, and retirement plan services to a vast audience of 19 million individuals, institutions, and retirement plan members worldwide. The organization's mission is to simplify investment decisions and enhance lives by empowering individuals to invest towards a better future. As a trusted ally to clients and a responsible steward of investor capital, they uphold a rich history of risk management along with extensive expertise across both public and private markets. Their primary goal is to provide superior investment and impact outcomes while assisting individuals in confidently saving for a more secure financial future.
Frequently Asked Questions
What is the significance of Manulife IM’s recent fundraising?
The recent fundraising of US $5.5 billion for MIF III is significant as it marks the largest fund raised by Manulife IM to date and emphasizes their reputation in mid-market infrastructure investments.
How does MIF III plan to utilize its funds?
MIF III aims to invest in high-quality core-plus infrastructure assets primarily across North America, targeting opportunities that withstand market volatility.
What past successes does MIF III have to build investor confidence?
MIF III builds investor confidence by showcasing the successful strategic holdings from its prior funds, which provided strong risk-adjusted returns and attracted oversubscription.
Who were the key advisors during the fundraising of MIF III?
Campbell Lutyens acted as the fundraising placement agent, while Ropes & Gray provided legal counsel and Deloitte served as the tax advisor for MIF III.
What does Manulife Wealth & Asset Management offer its clients?
Manulife Wealth & Asset Management offers global investment services, financial advice, and retirement plan services to individuals, institutions, and plan members worldwide.
