Manulife Investment Management has closed Manulife Co-Investment Partners II (MCIP II), a USD683.5 million private equity co-investment fund, which exceeded its original target of USD600 million.
MCIP II is the firm’s second co-investment fund, primarily investing in a diverse portfolio of North American middle market companies. MCIP II further fulfils Manulife Investment Management’s commitment to provide global investors access to its private market capabilities across private equity and credit, infrastructure, real estate, timberland, and agriculture.
“We are pleased to have closed the Fund above target – and well in excess of the size of our first equity co-investment fund,” says Stephen J Blewitt, global head of private markets, Manulife Investment Management. “The successful fundraise demonstrates the strength of our platform and the potential opportunities for our investors.”
Initially launched in 2020, MCIP II is backed by a highly diversified global investor base of institutional and private capital investors.
“We appreciate the continued partnership and support from our investors. Our differentiated team, with extensive experience making direct equity investments in the North American middle market, enables Manulife Investment Management to bring these opportunities to clients interested in the diversification, risk profile and potential outperformance of equity co-investment strategies,” says Scott Garfield, senior managing director, private equity and credit, Manulife Investment Management.
Garfield serves as Portfolio Manager of the fund. In addition to Mr. Garfield, Manulife Investment Management’s co-investment leadership team includes Vipon Ghai, global head of private equity and credit, and members of his senior team.
“We are proud of our longstanding relationships with global private equity partners. Over the last 15 years, we have invested more than USD2 billion in over 100 co-investments thanks in great part to our synergistic private equity and credit platform, which leverages our enhanced sourcing capabilities and deal flow opportunities across private assets,” added Vipon Ghai.
Manulife Investment Management’s private equity and credit platform currently has USD16.1 billion in assets under management and unfunded commitments across five verticals: primary private equity funds, equity co-investments, GP-led secondaries, senior credit, and junior credit. The integrated GP-centric platform possesses a strong network of 185+ sponsor partners. Manulife has been making direct private equity investments in the North American middle market since 2006. In 2016, Manulife Investment Management offered investors the opportunity to access its equity co-investment strategy with the launch of its inaugural co-investment fund.
