Manulife Investment Management Completes Acquisition of CQS
LONDON and TORONTO, April 3, 2024 /PRNewswire/ -- Manulife Investment Management announced today it has closed on the previously announced agreement to acquire multi-sector alternative credit manager CQS. Regulatory approval for this transaction was received from the U.K. Financial Conduct Authority. The acquisition accelerates growth for the firm and advances its strategy as a leading global wealth and asset manager providing income solutions across the credit spectrum to retail, institutional and retirement investors.
As part of the transaction, Manulife Investment Management has acquired the CQS brand and intends to align it with the Manulife brand as a co-branded logo – Manulife | CQS Investment Management – where permitted.
"With this acquisition, Manulife Investment Management is well-positioned to capitalize on the increased investor interest in alternative credit and accelerate the growth of our global business. We are excited to complete this strategic acquisition because of the tremendous opportunity to serve retail, retirement, and institutional investors more deeply and unlock growth for our clients," said Paul Lorentz, President and CEO, Manulife Investment Management. "Many investors are looking to increase their exposure to fixed income within their portfolios by adding more sophisticated strategies within this asset class, and we are pleased to expand our offering in this space."
"Today sees the joining together of our two businesses as Manulife | CQS Investment Management. Manulife IM is the ideal home for CQS, and this step marks the start of an exciting new chapter for our clients, our colleagues, and our alternative credit platform," said Soraya Chabarek, CEO of CQS. "Together we will open significant new opportunities for our clients who will benefit from the scale and capital strength of our new parent."
Ms. Chabarek will remain in her role as CEO of CQS. Senior Partners Craig Scordellis, CIO Credit, and Jason Walker, CIO ABS will also continue in their roles and report to Ms. Chabarek.
The financial terms of the transaction were not disclosed. Piper Sandler & Company served as exclusive financial advisor and Simmons & Simmons LLP served as legal counsel to CQS in this transaction.
Issued and approved by Manulife Investment Management (Europe) Limited. Registered in England No.02831891. Registered Office: One London Wall, London EC2Y 5EA. Authorised and regulated by the Financial Conduct Authority.
Manulife Investment Management is the brand for the global wealth and asset management segment of Manulife Financial Corporation. Our mission is to make decisions easier and lives better by empowering investors for a better tomorrow. Serving more than 17 million individuals, institutions, and retirement plan members, we believe our global reach, complementary businesses, and the strength of our parent company position us to help investors capitalize on today's emerging global trends. We provide our clients access to public and private investment solutions across equities, fixed income, multi-asset, alternative, and sustainability-linked strategies, such as natural capital, to help them make more informed financial decisions and achieve their investment objectives. Not all offerings are available in all jurisdictions. For additional information, please visit manulifeim.com.
Manulife | CQS Investment Management is a multi-sector alternative credit manager, wholly owned by Manulife Investment Management. The firm has a 20+ year history of managing research-driven credit strategies over multiple market cycles, with core capabilities that span corporate credit (loans and bonds), asset backed securities, regulatory capital, collateralized loan obligations and convertible bonds. Our ambition is to continue to help investors achieve their goals across market cycles by selecting good quality credits and generating income. We are committed to building enduring partnerships with investors, generating long-term risk-adjusted returns and delivering high levels of service, tailoring mandates across a range of return objectives and risk appetites. For additional information, please visit cqs.com.
Elizabeth Bartlett, Manulife Investment Management, +1 857-210-2286, Elizabeth_bartlett@manulife.com
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