Manulife to Acquire 75% Stake in Comvest Credit Partners
Comvest Credit Partners has agreed to sell a 75% stake in its private credit business to Manulife through its global wealth and asset management division, forming a newly co-branded private credit platform, Manulife | Comvest, with $18.4 billion in assets under management.
As part of the deal, Manulife’s existing senior credit team will integrate with Comvest’s to build a standalone private credit platform that will retain Comvest’s independent investment processes, leadership, and origination focus. Comvest will continue to oversee daily operations and portfolio decisions, while collaborating closely with Manulife’s distribution teams across institutional, wealth, retail, and retirement investor channels.
“After building Comvest over the past two decades, it was important to find a partner who shares our values and vision for the future,” said Michael Falk, Founder of Comvest.
Manulife | Comvest will be led by Robert O’Sullivan, co-founder and CEO of Comvest. The firm’s senior leadership and investment strategy will remain unchanged.
“With this acquisition, we will create a world-class alternative credit platform that can meet the distinct and growing needs of Manulife’s 19 million institutional, retirement and retail clients globally,” added Anne Valentine Andrews, global head of private markets for Manulife Wealth and Asset Management.
AMG, a minority investor in Comvest since 2020, will exit its position in the credit business following the transaction close but will retain its stake in Comvest Partners’ private equity business, which will become a separate standalone entity with no changes to its team or strategy.
The transaction is expected to close in Q4 2025. BofA Securities acted as exclusive financial advisor to Comvest, while Kirkland & Ellis served as legal counsel.
