- Manulife Investment Management commits $1.5 billion to Manulife Private Equity Partners (MPEP).
- Manulife used existing funds' portfolio and co-investments from over 25 private equity managers.
- AlpInvest is the lead investor for the MPEP fund along with multiple other global investors with high net worth.
As per the recent announcement from Manulife Investment Management (Manulife), it has committed around $1.5 billion to Manulife Private Equity Partners (MPEP).
Manulife Investment Management is known to work diligently towards offering specialized solutions for asset management to global investors. MPEP is Manulife’s Private Market’s Group’s first fund of funds product.
Manulife Used Its Existing Funds Portfolio To Seed The Fund
In order to seed the fund, Manulife used its existing funds’ portfolio as well as co-investments from over 25 other private equity managers. MPEP also covers new fund investments along with co-investments, both of which are under Manulife’s Private Markets Group’s management. Daniel Budde, Manulife’s Senior Managing Director, leads the MPEP’s fund investment program. In his recent comment, the Senior Managing Director stated:
“The investment team will utilize its significant experience, relationships, and database of market intelligence to build an attractive portfolio that is consistent with the Fund’s mandate.”
Multiple investors from across the globe with a high net worth in association with AlpInvest Partners currently back the fund. AlpInvest Partners is known to have a reputation of a top private equity secondary market. AlpInvest is the lead investor for the MPEP fund.
AlpInvest’s Managing Director, Michael Hacker, also stated in a recent comment:
“Manulife has built a highly attractive private equity program, including relationships with some of the top managers in the North American middle-market. We appreciated the opportunity to partner with Manulife in the development of this product, including the selection of a high-quality seed portfolio.”
Manulife’s Global Executives Express Excitement For Fund Of Funds Product
Manulife’s Global Head for Private Equity and Credit, Vipon Ghai, also expressed excitement for an all-new fund of funds product to be offered to the valuable clients. Ghai also stated that the company is well-versed in making investments in private equities. Manulife’s Global Head for Private Markets, Steve Blewitt, on the other hand, was reported quoting that the fund succeeded in inviting a wide range of clients with high net worth from various regions including North America, Europe, and Asia. It sheds light, he added, on the strength of Manulife’s platform and worldwide reach.
Manulife opted for Campbell Lutyens & Co for financial advisory services for the fund.