US$ unless otherwise
stated
TSX/NYSE/PSE: MFC SEHK: 945
BOSTON, Oct. 7, 2021 /PRNewswire/ -- Manulife
Investment Management announced today the closing of Manulife
Co-Investment Partners II, L.P. ("MCIP II" or the "Fund"), a
US$683.5 million private equity
co-investment fund, which exceeded its original target of
US$600 million. MCIP II is the firm's
second co-investment fund, primarily investing in a diverse
portfolio of North American middle market companies. MCIP II
further fulfills Manulife Investment Management's commitment to
provide global investors access to its private market capabilities
across private equity and credit, infrastructure, real estate,
timberland, and agriculture.
"We are pleased to have closed the Fund above target – and well
in excess of the size of our first equity co-investment fund," said
Stephen J. Blewitt, global head of
private markets, Manulife Investment Management. "The successful
fundraise demonstrates the strength of our platform and the
potential opportunities for our investors."
Initially launched in 2020, MCIP II is backed by a highly
diversified global investor base of institutional and private
capital investors.
"We appreciate the continued partnership and support from our
investors. Our differentiated team, with extensive experience
making direct equity investments in the North American middle
market, enables Manulife Investment Management to bring these
opportunities to clients interested in the diversification, risk
profile and potential outperformance of equity co-investment
strategies," said Scott Garfield,
senior managing director, private equity and credit, Manulife
Investment Management.
Mr. Garfield serves as Portfolio Manager of the fund. In
addition to Mr. Garfield, Manulife Investment Management's
co-investment leadership team includes Vipon Ghai, global head of private equity and
credit, and members of his senior team.
"We are proud of our longstanding relationships with global
private equity partners. Over the last 15 years, we have invested
more than US$2 billion in over 100
co-investments thanks in great part to our synergistic private
equity and credit platform, which leverages our enhanced sourcing
capabilities and deal flow opportunities across private assets,"
added Vipon Ghai.
Manulife Investment Management's private equity and credit
platform currently has $16.1 billion
in assets under management and unfunded commitments across five
verticals: primary private equity funds, equity co-investments,
GP-led secondaries, senior credit, and junior credit. The
integrated GP-centric platform possesses a strong network of 185+
sponsor partners. Manulife has been making direct private equity
investments in the North American middle market since 2006. In
2016, Manulife Investment Management offered investors the
opportunity to access its equity co-investment strategy with the
launch of its inaugural co-investment fund.
About Manulife Investment Management
Manulife
Investment Management is the global wealth and asset management
segment of Manulife Financial Corporation. We draw on more than a
century of financial stewardship and the full resources of our
parent company to serve individuals, institutions, and retirement
plan members worldwide. Headquartered in Toronto, our leading capabilities in public
and private markets are strengthened by an investment footprint
that spans 18 geographies. We complement these capabilities by
providing access to a network of unaffiliated asset managers from
around the world. We're committed to investing responsibly across
our businesses. We develop innovative global frameworks for
sustainable investing, collaboratively engage with companies in our
securities portfolios, and maintain a high standard of stewardship
where we own and operate assets, and we believe in supporting
financial well-being through our workplace retirement plans. Today,
plan sponsors around the world rely on our retirement plan
administration and investment expertise to help their employees
plan for, save for, and live a better retirement.
As of June 30, 2021, Manulife
Investment Management's assets under management and administration,
including assets managed for Manulife's other segments, totaled
CAD$1.0 trillion (US$834.0 billion). Not all offerings are
available in all jurisdictions. For additional information, please
visit manulifeim.com.
Media contact : Manulife Investment Management,
Elizabeth Bartlett, +1 857-210-2286,
Elizabeth_Bartlett@Manulife.com
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