Manulife Investment Management Closes Third Co-Investment Fund at $1.1B, Surpassing Predecessor by over $300M

Rhea-AI Summary

Manulife Investment Management (NYSE:MFC) has successfully closed its third co-investment fund, Manulife Co-Investment Partners III, raising $1.1 billion - significantly exceeding its $750 million target and surpassing its 2021 predecessor fund by over $300 million.

The fund attracted diverse global investors, including pensions, insurance companies, asset managers, financial institutions, and family offices, with Manulife's General Account also making a capital commitment. The strategy leverages Manulife IM's network of over 200 sponsor partners to provide institutional investors direct access to middle market private equity opportunities.

Manulife IM's private equity and credit platform now manages over $28 billion in assets, including primary funds, co-investments, secondaries, and credit investments, as part of its broader private markets platform.

Positive

• Fund raised $1.1 billion, exceeding target by $350 million and predecessor fund by over $300 million
• Strong diversification of global investor base including institutional investors and family offices
• Platform manages significant $28 billion in private equity and credit assets
• Extensive network of over 200 sponsor partners providing deal flow

Negative

• Large portion of AUM ($9.1 billion) consists of unfunded commitments

BOSTON and TORONTO, July 8, 2025 /PRNewswire/ - Manulife Investment Management (Manulife IM) has announced the final close of Manulife Co-Investment Partners III, L.P. and related strategic commitments, raising $1.1 billion—well above its $750 million target and exceeding its 2021 predecessor fund by more than $300 million.

This milestone reflects the continued successful fundraising of Manulife IM's co-investment strategy, which is built on the firm's long-standing primary funds platform and deep relationships with a global network of over 200 sponsor partners. The strategy is designed to provide institutional investors with direct access to high-quality private equity opportunities in middle market companies, sourced through the firm's general partner relationships and underwritten by a seasoned investment team with a disciplined, selective approach.

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.

"We're thrilled with the successful fundraise of our third co-investment vehicle, with a significant increase in commitments from our predecessor fund. We sincerely appreciate the support from both our new and returning investors, whose trust and partnership have been crucial in reaching this significant achievement," said Vipon Ghai, CPA, CMA, CFA, global head of private equity and credit, Manulife IM.

"This fundraise is a testament to our consistent strategy, highly experienced team, and the strength of our sponsor network alongside whom we invest. We're excited to continue to offer our investors access to diversified private equity opportunities," said Scott Garfield, senior managing director and head of North American private equity, Manulife IM.

Manulife IM's private equity and credit platform now manages over $28 billion in assets¹ across primary funds, co-investments, secondaries, and senior and junior credit as part of its broader private markets platform, which also includes infrastructure, real estate, timberland, and agriculture.

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. Data includes assets managed by Manulife Investment Management and its affiliates on behalf of Manulife's Canadian and U.S. general accounts, as well as certain third-party investors. Investment advisory services to third-party investors and certain affiliated investors are offered by Manulife Investment Management Private Markets (US) LLC (Manulife IM PM (US).

About Manulife Wealth & Asset Management 

As part of Manulife Financial Corporation, Manulife Wealth & Asset Management provides global investment, financial advice, and retirement plan services to 19 million individuals, institutions, and retirement plan members worldwide. Our mission is to make decisions easier and lives better by empowering people today to invest for a better tomorrow. As a committed partner to our clients and as a responsible steward of investor capital, we offer a heritage of risk management, deep expertise across public and private markets, and comprehensive retirement plan services. We seek to provide better investment and impact outcomes and to help people confidently save and invest for a more secure financial future. Not all offerings are available in all jurisdictions. For additional information, please visit manulifeim.com.

Media contact

Elizabeth Bartlett
Manulife Investment Management
Elizabeth_Bartlett@manulife.com 

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SOURCE Manulife Investment Management

FAQ

How much did Manulife Investment Management raise in its third co-investment fund?

Manulife Investment Management raised $1.1 billion for Manulife Co-Investment Partners III, exceeding its $750 million target and surpassing its 2021 predecessor fund by over $300 million.

What is the total AUM of Manulife Investment Management's private equity and credit platform?

The platform manages over $28 billion in assets, including funded capital and $9.1 billion of unfunded commitments as of March 31, 2025.

Who are the investors in Manulife's third co-investment fund?

The fund attracted a diverse global investor base, including public and corporate pensions, insurance companies, asset managers, financial institutions, family offices, and Manulife's General Account.

How many sponsor partners does Manulife Investment Management work with?

Manulife Investment Management maintains relationships with a global network of over 200 sponsor partners for sourcing private equity opportunities.

What types of investments does Manulife's private markets platform include?

The platform includes investments in private equity, credit, infrastructure, real estate, timberland, and agriculture, with the private equity and credit portion managing primary funds, co-investments, secondaries, and senior and junior credit.