Manulife to expand private asset management business

Manulife Financial today announced the expansion of its global third-party private asset management business.  The new business unit will be called Manulife Asset Management Private Markets. 

The business unit will bring together specialized private asset teams that currently manage funds for third-party investors, as well as provide investors access to Manulife Financial’s other specialized private asset investment teams that historically have primarily served its general fund.

“We have invested successfully in these private asset classes for decades and our investment teams are among the most experienced in the business,” said Warren Thomson, senior executive vice president and chief investment officer, Manulife Financial and chairman, Manulife Asset Management.  “We see a tremendous opportunity to develop customized solutions for clients that wish to invest in private asset classes.” The new business unit will be headed by Kevin Adolphe, president and chief executive officer, Manulife Asset Management Private Markets.