Manulife Investment Management (Manulife IM) announced the closing of approximately US$810 million in commitments to Manulife Private Equity Partners II, L.P. (the Fund). This marks the second private equity fund of funds raised by Manulife IM, aimed at providing specialized solutions for investors seeking greater exposure to opportunities in a growing private equity market. The Fund was seeded with an existing portfolio selected in partnership with AlpInvest, a subsidiary of global investment firm Carlyle (NASDAQ: CG), consisting of private equity fund interests and co-investments in North American buyout funds with more than 30 leading private equity managers.
"We are thrilled to have closed on Manulife Private Equity Partners II and have the opportunity to showcase our commitment to general partners as a provider of stable sources of capital and our patient approach to building value, as well as the solutions that are available to our clients," said Vipon Ghai, Global Head of Private Equity and Credit at Manulife Investment Management.
Management of the Fund will be led by Richard Tarr, Managing Director, Private Equity Funds, at Manulife Investment Management. "Manulife Private Equity Partners II brings a diverse portfolio of investments and the potential for growth and value creation to investors who seek access to the expertise and knowledge of multiple managers across sectors and industries," said Mr. Tarr.
Michael Hacker, Managing Director at AlpInvest Partners added, "After successfully partnering with Manulife IM to develop and anchor Manulife Private Equity Partners, L.P. in 2019, we are pleased to continue the collaboration between our firms. Having worked with Manulife IM to select the seed portfolio, we are excited to invest in the second fund which consists of high-quality North American buyout investments managed entirely by longstanding AlpInvest relationship GPs."
Globally, Manulife IM’s private equity and credit platform has more than US$25 billion in assets under management focused on primary funds, equity co-investments, secondaries, senior credit and junior credit in North America and Asia middle markets.
About Manulife Investment Management
Manulife Investment Management is the brand for the global wealth and asset management segment of Manulife Financial Corporation. Serving more than 17 million individuals, institutions, and retirement plan members globally, it provides access to public and private investment solutions across equities, fixed income, multi-asset strategies among others.
About AlpInvest
AlpInvest is a subsidiary of Carlyle (NASDAQ: CG) with $80 billion in assets under management as of March 31, 2024. It has invested with over 360 managers globally.
Media Contacts:
Elizabeth Bartlett
Elizabeth_Bartlett@Manulife.com
857-210-2286
Brittany Berliner
+1 (212) 813-4839
brittany.berliner@carlyle.com