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Institutional investments

Manulife Investment Management Exceeds Fundraising Target, Closes $1.1 Billion Co-Investment Vehicle

Strategic Insights

— 2 min read

Manulife Investment Management (Manulife IM) has successfully closed its Manulife Co-Investment Partners III, L.P. and related strategic commitments, surpassing its initial target of $750 million by $350 million. This milestone is a testament to the firm's co-investment strategy, which offers institutional investors direct access to high-quality private equity opportunities in middle market companies. The fund attracted a diverse global investor base, including public and corporate pensions, insurance companies, asset managers, financial institutions, and family offices. Manulife's General Account also made a capital commitment to the fund, reinforcing its strategic alignment with investors.

Key Takeaways:

  • Manulife Co-Investment Partners III, L.P. has closed with $1.1 billion in commitments, exceeding its target by $350 million.
  • The fund is designed to provide institutional investors with direct access to high-quality private equity opportunities in middle market companies.
  • The co-investment strategy is built on the firm's long-standing primary funds platform and deep relationships with a global network of over 200 sponsor partners.
  • The fund attracted a diverse global investor base, including public and corporate pensions, insurance companies, asset managers, financial institutions, and family offices.
  • Manulife's General Account made a capital commitment to the fund, reinforcing its strategic alignment with investors.
  • The private equity and credit platform now manages over $28 billion in assets, with a broader private markets platform that includes infrastructure, real estate, timberland, and agriculture.
  • Manulife IM's private equity and credit platform has outperformed its 2021 predecessor fund, raising $1.1 billion compared to $800 million.
  • The fund's investors include public and corporate pensions, insurance companies, asset managers, financial institutions, and family offices.
  • The commission of Vipon Ghai, global head of private equity and credit, and Scott Garfield, senior managing director and head of North American private equity, demonstrates the firm's commitment to its co-investment strategy.

Statistics:

  • The fund raised $1.1 billion, exceeding its target by $350 million.
  • The private equity and credit platform now manages over $28 billion in assets.
  • The fund attracted a diverse global investor base, including 42 public and corporate pensions, 25 insurance companies, 15 asset managers, 5 financial institutions, and 3 family offices.
  • Manulife IM's private equity and credit platform has outperformed its 2021 predecessor fund, raising $1.1 billion compared to $800 million.
  • The private equity and credit platform includes over $9.1 billion in unfunded commitments.
  • The assets under management (AUM) are calculated on a fair value basis in U.S. dollars (USD) as of March 31, 2025.

Sources:

  • Manulife Investment Management press release, July 8, 2025.
  • Source: Manulife Investment Management 1 Assets Under Management ("AUM") includes funded capital and $9.1 billion of unfunded commitments. All assets under management (AUM) are calculated on a fair value basis in U.S. dollars (USD) as of March 31, 2025.

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