Manulife Investment Management Launches New Secondary Investment Business - Seite 2

Manulife, through its global Private Equity and Credit group, invests in private equity funds, co-investments and private credit securities (junior and senior financing) typically in collaboration with a broad array of leading general partners. Current Private Equity and Credit assets under management are $6.5b USD on behalf of third-party clients and Manulife's General Account as at June 30, 2019¹.

Mr. Hammer and Mr. Sanabria will build a global team headquartered in New York. The new team is an important initiative for Manulife and will begin investing immediately on behalf of Manulife's General Account, while contributing to the development of specialized secondary funds, separately managed accounts and other investment products for Manulife Investment Management's global institutional client base.

Stephen Blewitt, Global Head of Private Markets, commented: "The secondary market's rapid growth presents a significant opportunity for Manulife Investment Management and our institutional clients. I am delighted that Paul and Jeff, who have decades of experience and deep relationships in the secondaries market, will lead this business."   

Vipon Ghai, Global Head of Private Equity and Credit, said: "The addition of this Secondaries investment business complements and expands Manulife Investment Management's existing investment capabilities. It builds on the strength of our existing GP relationships, where we have established a highly collaborative approach."

Paul Sanabria, Global Co-Head of Secondaries, said: "I am excited by the opportunity to build Manulife Investment Management's strategic Secondaries business with my long-standing professional partner, Jeff Hammer. Manulife's commitment to grow the range of private asset solutions for investors, its stellar reputation and global footprint can provide us with a formidable platform to establish a world-class capability."

Jeff Hammer, Global Co-Head of Secondaries, added: "Our broad and deep experience developing solutions for complex and illiquid assets, coupled with Manulife Investment Management's scale and distribution through its global wealth and asset management business lines, I believe will enable us to create value for Manulife's key stakeholders including GP partners, third-party investors, and Manulife's General Account."