Manulife Investment Management Launches New Secondary Investment Business
- New secondaries investment capability part of Manulife's strategy to expand its Private Markets investment platform
- Veteran secondary market advisors and investors Jeff Hammer and Paul Sanabria hired as Global Co-Heads of Secondaries
BOSTON, Oct. 21, 2019 /CNW/ - Manulife Investment Management ("Manulife") today announced the launch of a new secondary investment business within its Private Markets group and has appointed Jeff Hammer and Paul Sanabria to serve as Global Co-Heads of this business.
The Secondaries capability is part of Manulife's strategy to expand its comprehensive Private Markets platform, which includes Private Equity and Credit, Infrastructure, Real Estate, Timber and Agriculture.
Mr. Hammer and Mr. Sanabria are expected to build a global secondary investment capability that focuses on general partner-led and special situation transactions, and partners with private equity, private credit and secondary fund sponsors. The new business will serve the increasingly complex liquidity needs of private capital markets, and is anticipated to invest in solution-oriented opportunities as well as more traditional secondary transactions. Mr. Hammer and Mr. Sanabria expect to harness Manulife's track record as a collaborative investor and long-time fund allocator to lead, participate in and invest in transactions with general partners.
Mr. Hammer and Mr. Sanabria, who have worked together for over 20 years, will draw upon their experience, creativity and problem-solving capabilities developed as both secondary advisors and investors. Over the past 10 years at Houlihan Lokey, they built and led a market-leading secondary advisory business that executed over $15b USD of private equity, private credit and other esoteric asset transactions. Previously at Bear Stearns Asset Management, they built and led Private Equity Advisors, a private equity investment group that invested balance sheet and third-party capital into a cross-section of primary, secondary and co-investment transactions with AUM of $2.1b USD prior to their departure.