Manulife Investment Management extends offering of private markets capabilities to European investors
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DUBLIN and LONDON, May 19, 2021 /PRNewswire/ -- Manulife Investment Management announced today the authorisation of its Irish entity, Manulife Investment Management (Ireland) Limited, as an Alternative Investment Fund Manager (AIFM), enabling it to provide management company services to alternative investment funds (AIFs) in accordance with the Alternative Investment Fund Managers Directive (AIFMD).1 Manulife Investment Management Ireland's authorisation as an AIFM, effective 15 April 2021, enables the passporting and sale of private markets funds to professional investors across the European Economic Area, and is a major milestone in driving the expansion and offering of Manulife Investment Management's private markets investment capabilities within Europe.
With more than €98 billion in private markets assets globally,2 Manulife Investment Management's capabilities are offered across private equity and credit, real estate, infrastructure, timberland, and agriculture to institutional and high-net-worth clients.
"Achieving this license is a critical milestone to further extend the reach of our global private markets business and is a strategic opportunity for European investors seeking access to the diversification and the potential benefits of private asset exposures," said Paul R. Lorentz, president & CEO, Manulife Investment Management.
Andrew G. Arnott, head of wealth and asset management, Manulife Investment Management, United States and Europe added, "According to ESMA, the European AIF segment is nearly €5.8 trillion – or 40% of the total EU fund industry.* The AIFM authorisation further demonstrates our commitment to expanding investment options for clients in the region in a market where demand continues to grow."
Manulife Investment Management will offer these capabilities across Europe with an initial focus on Austria, Belgium, Denmark, Finland, France, Germany, Italy, Lithuania, Luxembourg, Netherlands, Norway, Spain, Sweden, Switzerland, and the United Kingdom.
"Manulife Investment Management offers European investors one of the most diverse sets of private market capabilities in the industry with investment expertise in private equity, private credit and real assets," said Stephen J. Blewitt, global head of private markets, Manulife Investment Management. "We are seeing an increased demand for private assets due to the continued low yield environment and we are focused on meeting the needs of investors who may want to take advantage of our decades of experience managing illiquid assets."
Manulife Investment Management has recently hired two new roles which, in addition to its existing global team, help to support the expansion of its private markets offering. Christoph Schumacher, global head of real assets, and Alex Catterick, global head of high-net-worth strategy for private markets, were onboarded to build strategy, and manage the development, launch and growth of new products designed for investors interested in private assets.
Across Europe, Manulife Investment Management has a team of more than 75 investment, product, operations, risk, marketing and distribution and compliance professionals in Copenhagen, Dublin, London, and Zurich.
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- Authorisation of the AIFM license by the Central Bank of Ireland is not an endorsement or guarantee nor is the Central Bank of Ireland responsible for the contents of this press release.
- AUM information, on a fair value basis, represents real estate equity and debt, infrastructure, private equity and credit, private placements, oil and gas, timber and agriculture assets managed by Manulife IM on behalf of the Manulife General Account and $27.3B for external clients (which includes $294M of unfunded committed capital of Manulife IM Private Markets (US) LLC). The methodologies used to compile the total assets under management are subject to change and may not reflect regulatory AUM as reported on certain affiliates' Form ADV.
*ESMA report values EU Alternative Investment Funds at €5.8 trillion (europa.eu) January 10, 2020
About Manulife Investment Management
Manulife Investment Management is the global wealth and asset management segment of Manulife Financial Corporation. We draw on more than a century of financial stewardship and the full resources of our parent company to serve individuals, institutions, and retirement plan members worldwide. Headquartered in Toronto, our leading capabilities in public and private markets are strengthened by an investment footprint that spans 17 countries and territories. We complement these capabilities by providing access to a network of unaffiliated asset managers from around the world. We're committed to investing responsibly across our businesses. We develop innovative global frameworks for sustainable investing, collaboratively engage with companies in our securities portfolios, and maintain a high standard of stewardship where we own and operate assets, and we believe in supporting financial well-being through our workplace retirement plans. Today, plan sponsors around the world rely on our retirement plan administration and investment expertise to help their employees plan for, save for, and live a better retirement.
As of March 31, 2021, Manulife Investment Management had CAD $764.1 billion (US $607.6 billion) in assets under management and administration. Not all offerings are available in all jurisdictions. For additional information, please visit manulifeim.com.
Media contact: Elizabeth Bartlett, Manulife Investment Management US and Europe, +1 857-210-2286, elizabeth_bartlett@manulife.com
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