Manulife expanding private asset management

Manulife Financial is expanding its global third party private asset management business.

Read: Manulife posts Q3 earnings of $1 billion

Manulife Asset Management Private Markets will bring together specialized private asset teams that currently manage funds for third-party investors, as well as provide investors access to Manulife Financial’s other specialized private asset investment teams, which had primarily served its general fund.

The president and chief executive officer of Manulife Asset Management Private Markets will be Kevin Adolphe.

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Manulife Financial manages $74 billion of private market investments. Its total funds under management are C$575 billion. The private assets include private placement debt, commercial mortgages, timberland, farmland, real estate, private equity and mezzanine debt, oil and gas and power and infrastructure assets.

Read: Manulife gets PRPP licence

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The staff of Advisor.ca have been covering news for financial advisors since 1998.