Manulife Expands Private Asset Business

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    Manulife Financial has expanded its global third-party private asset management business. The new business unit ‒ Manulife Asset Management Private Markets ‒ will bring together specialized private asset teams that currently manage funds for third-party investors. It will also provide investors access to Manulife Financial’s other specialized private asset investment teams that historically have primarily served its general fund. The unit will be headed by Kevin Adolphe, president and chief executive officer, Manulife Asset Management Private Markets. Manulife Financial manages $74 billion of private market investments out of its total funds under management of C$575 billion. Collectively, these private assets span across private placement debt, commercial mortgages, timberland, farmland, real estate, private equity and mezzanine debt, oil and gas and power, and infrastructure assets.