Comvest Partners’ Private Credit Business to be Acquired by Manulife
AMG (NYSE:AMG) has announced the sale of its interest in Comvest Partners' private credit business to Manulife Financial Corporation. The transaction, valued at approximately $285 million in cash consideration, represents a significant gain on AMG's investment.
During AMG's five-year partnership, Comvest's credit franchise grew from $2 billion to $14 billion in assets under management. AMG will retain interests in Comvest's private equity business, carry from existing private credit funds, and share of invested capital. The deal includes the sale of AMG's interest in the AMG Comvest Senior Lending Fund joint venture.
The transaction is expected to close in Q4 2025, subject to customary closing conditions.
AMG (NYSE:AMG) ha annunciato la vendita della sua quota nel business di credito privato di Comvest Partners a Manulife Financial Corporation. L'operazione, valutata circa 285 milioni di dollari in contanti, rappresenta un guadagno significativo sull'investimento di AMG.
Durante i cinque anni di collaborazione con AMG, il settore del credito di Comvest è cresciuto da 2 miliardi a 14 miliardi di dollari in asset under management. AMG manterrà interessi nel business di private equity di Comvest, carry dai fondi di credito privato esistenti e una quota del capitale investito. L'accordo comprende la vendita della partecipazione di AMG nella joint venture AMG Comvest Senior Lending Fund.
La transazione è prevista per la chiusura nel quarto trimestre 2025, soggetta alle consuete condizioni di chiusura.
AMG (NYSE:AMG) ha anunciado la venta de su participación en el negocio de crédito privado de Comvest Partners a Manulife Financial Corporation. La transacción, valorada en aproximadamente 285 millones de dólares en efectivo, representa una ganancia significativa sobre la inversión de AMG.
Durante la asociación de cinco años con AMG, la franquicia de crédito de Comvest creció de 2 mil millones a 14 mil millones de dólares en activos bajo gestión. AMG conservará intereses en el negocio de capital privado de Comvest, carry de los fondos de crédito privado existentes y una participación del capital invertido. El acuerdo incluye la venta del interés de AMG en la empresa conjunta AMG Comvest Senior Lending Fund.
Se espera que la transacción se cierre en el cuarto trimestre de 2025, sujeto a las condiciones habituales de cierre.
AMG (NYSE:AMG)는 Comvest Partners의 프라이빗 크레딧 사업 지분을 Manulife Financial Corporation에 매각한다고 발표했습니다. 이번 거래는 약 2억 8,500만 달러 현금 대가로 평가되며, AMG 투자에 큰 수익을 안겨줍니다.
AMG와의 5년간 파트너십 동안 Comvest의 크레딧 사업은 운용 자산이 20억 달러에서 140억 달러로 성장했습니다. AMG는 Comvest의 프라이빗 에쿼티 사업에 대한 지분, 기존 프라이빗 크레딧 펀드에서 발생하는 캐리, 투자 자본 지분을 유지할 예정입니다. 이번 계약에는 AMG의 AMG Comvest Senior Lending Fund 합작 투자 지분 매각도 포함됩니다.
이번 거래는 통상적인 마감 조건에 따라 2025년 4분기에 완료될 예정입니다.
AMG (NYSE:AMG) a annoncé la vente de sa participation dans le secteur du crédit privé de Comvest Partners à Manulife Financial Corporation. La transaction, évaluée à environ 285 millions de dollars en espèces, représente un gain important sur l'investissement d'AMG.
Au cours du partenariat de cinq ans avec AMG, la franchise de crédit de Comvest est passée de 2 milliards à 14 milliards de dollars d'actifs sous gestion. AMG conservera des intérêts dans le secteur du capital-investissement de Comvest, le carry des fonds de crédit privé existants, ainsi qu'une part du capital investi. L'accord comprend la vente de la participation d'AMG dans la coentreprise AMG Comvest Senior Lending Fund.
La transaction devrait être finalisée au quatrième trimestre 2025, sous réserve des conditions habituelles de clôture.
AMG (NYSE:AMG) hat den Verkauf seiner Beteiligung am Private-Credit-Geschäft von Comvest Partners an die Manulife Financial Corporation bekanntgegeben. Die Transaktion, die mit rund 285 Millionen US-Dollar in bar bewertet wird, stellt einen erheblichen Gewinn für AMGs Investition dar.
Während der fünfjährigen Partnerschaft wuchs die Kredit-Sparte von Comvest von 2 Milliarden auf 14 Milliarden US-Dollar an verwaltetem Vermögen. AMG behält Anteile am Private-Equity-Geschäft von Comvest, Carry aus bestehenden Private-Credit-Fonds sowie einen Anteil am investierten Kapital. Der Deal umfasst auch den Verkauf von AMGs Beteiligung am Joint Venture AMG Comvest Senior Lending Fund.
Der Abschluss der Transaktion wird für das 4. Quartal 2025 erwartet, vorbehaltlich der üblichen Abschlussbedingungen.
- Significant cash consideration of $285 million, representing a substantial gain on investment
- Successful growth of Comvest's credit franchise from $2B to $14B AUM during partnership
- Retention of valuable interests in Comvest's private equity business and existing private credit funds
- Strategic partnership demonstrated success in AMG's business model
- Divestment of profitable credit business segment reduces AMG's exposure to private credit market
- Loss of AMG Comvest Senior Lending Fund joint venture
Insights
AMG's sale of Comvest's credit business to Manulife demonstrates its partnership model success, generating substantial value from $2B to $14B AUM growth.
This transaction represents a strategic monetization for AMG, which is selling its interest in Comvest Partners' private credit business to Manulife Financial Corporation. The deal highlights AMG's successful partnership approach, having helped grow Comvest's credit assets under management from
The transaction structure is particularly noteworthy. AMG will receive approximately
- Carried interest from certain existing private credit funds
- A share of Comvest's invested capital in these funds
- Its interest in Comvest's separate private equity business
This deal demonstrates the effectiveness of AMG's business model in action. The company provides growth capital and strategic capabilities to independent investment firms while preserving their autonomy and entrepreneurial culture. AMG's approach creates optionality for eventual liquidity events that can benefit all stakeholders.
For Comvest, which has built its business supporting middle-market companies for 25 years, the sale to Manulife represents an opportunity to access greater resources and scale. The retention of AMG's interest in Comvest's private equity business suggests this segment will continue operating independently.
The transaction is expected to close in Q4 2025, subject to customary closing conditions. The sale of AMG's interest in the AMG Comvest Senior Lending Fund joint venture is also included in this agreement.
Underscores Value of AMG Partnership Model in Advancing Affiliates' Long-Term Objectives
WEST PALM BEACH, Fla., Aug. 06, 2025 (GLOBE NEWSWIRE) -- AMG, a strategic partner to leading independent investment management firms globally, today announced that it has entered into an agreement to sell its interest in Comvest Partners’ (“Comvest”) private credit business as part of the announced acquisition of the business by Manulife Financial Corporation.
Comvest is a leading private equity and direct lending investment firm that has supported the capital needs of North American middle-market companies for the past 25 years. AMG’s strategic engagement provided Comvest with growth capital and access to AMG’s capital formation capabilities, which accelerated the growth of Comvest’s credit franchise from
“We enter all partnerships with the goal of magnifying our Affiliates’ long-term success, aligned with our partners across a range of outcomes,” said Jay C. Horgen, Chief Executive Officer of AMG. “We are pleased that AMG’s collaboration over the course of our partnership has enhanced Comvest’s business growth and its ability to achieve this positive outcome for all stakeholders.”
“We chose to partner with AMG because of its unique partnership model, which provided Comvest with access to valuable strategic capabilities to amplify our firm’s long-term growth trajectory, while preserving our independence,” said Michael Falk, Founder and Executive Chairman of Comvest. “AMG’s strategic engagement across a range of initiatives, including product development and distribution, has had a meaningful impact on Comvest’s competitive positioning and contributed to this outcome for our firm.”
Pursuant to the terms of the agreement, AMG is expected to receive total cash consideration of approximately
The transaction is expected to close in the fourth quarter of 2025, subject to customary closing conditions.
About AMG
AMG (NYSE: AMG) is a strategic partner to leading independent investment management firms globally. AMG’s strategy is to generate long‐term value by investing in high-quality independent partner-owned firms, through a proven partnership approach, and allocating resources across AMG's unique opportunity set to the areas of highest growth and return. Through its distinctive approach, AMG magnifies its Affiliates' existing advantages and actively supports their independence and ownership culture. As of June 30, 2025, AMG’s aggregate assets under management were approximately
Certain matters discussed in this press release issued by Affiliated Managers Group, Inc. (“AMG” or the “Company”) may constitute forward-looking statements within the meaning of the federal securities laws, and could be impacted by a number of factors, including those described under the section entitled “Risk Factors” in AMG’s most recent Annual Report on Form 10-K, as such factors may be updated from time to time in the Company’s periodic filings with the SEC, which are accessible on the SEC's website at www.sec.gov. AMG undertakes no obligation to publicly update or review any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by applicable law. This release does not constitute an offer of any products, investment vehicles, or services of any AMG Affiliate. From time to time, AMG may use its website as a distribution channel of material Company information. AMG routinely posts financial and other important information regarding the Company in the Investor Relations section of its website at www.amg.com and encourages investors to consult that section regularly.
AMG Media & Investor Relations:
Patricia Figueroa
(617) 747-3300
ir@amg.com
pr@amg.com
FAQ
What is the value of Manulife's acquisition of AMG's interest in Comvest Partners?
How much did Comvest's credit franchise grow during AMG's partnership?
What assets will AMG retain after selling Comvest's private credit business?
When is the AMG-Manulife Comvest transaction expected to close?
Why did Comvest initially partner with AMG?
