Manulife to Acquire Comvest Credit Partners in Strategic Expansion

Manulife Financial Corporation is bolstering its private credit capabilities with the acquisition of a 75% stake in Comvest Credit Partners for $937.5 million. The deal aligns with Manulife's strategy to enhance earnings from high-potential businesses, adding Comvest's $14.7 billion middle-market direct lending platform to its portfolio.

The combined entity will operate as Manulife | Comvest, creating an $18.4 billion private credit asset management platform. Comvest's leadership will remain intact, ensuring continuity in investment strategy and process. The transaction is expected to immediately boost Manulife's Core earnings per share, return on equity, and EBITDA margin.

This MOVE underscores the growing institutional appetite for private credit markets as traditional lenders retreat. Manulife's Global Wealth and Asset Management segment, overseeing more than $900 billion, continues to prioritize disciplined capital deployment in alternative assets.