Manulife Financial is expanding its global third-party private asset management business.
Manulife Asset Management Private Markets will bring together specialized private asset teams that currently manage funds for third-party investors, as well as provide investors access to Manulife’s other specialized private asset investment teams that historically have primarily served its general fund.
Kevin Adolphe will be president and CEO of the new unit.
“We have invested successfully in these private asset classes for decades, and our investment teams are among the most experienced in the business,” says Warren Thomson, senior executive vice-president and chief investment officer with Manulife and chairman of Manulife Asset Management.
Manulife manages $74 billion of private market investments out of its total funds under management of $575 billion. Collectively, these private assets span across private placement debt, commercial mortgages, timberland, farmland, real estate, private equity and mezzanine debt, as well as oil and gas, power and infrastructure assets. Manulife Financial currently manages private assets for its own general fund and, in some asset classes, for third-party investors.