Manulife | Comvest Raises $5.4B for Latest Private Credit Strategy

Manulife | Comvest Credit Partners has raised $5.4 billion in total investable capital through the final close of Comvest Credit Partners VII and related transaction vehicles, marking the private credit platform’s largest fundraising to date.

CCP VII is the latest vintage of the platform’s flagship North American direct lending strategy. The fund provides financing to sponsored and nonsponsored middle-market companies through cash-flow and asset-based loans.

“CCP VII builds on the momentum we’ve established over the past 20 years,” said Robert O’Sullivan, global head of Manulife | Comvest Credit Partners.

O’Sullivan said the platform avoids competing in the most broadly syndicated portions of the credit market. Instead, it targets differentiated opportunities in which complexity, structuring expertise and relationship-based sourcing may generate compelling risk-adjusted returns.

The fund is already substantially deployed, according to the firm. It received commitments from existing and new institutional investors, expanding the platform’s global investor base while retaining support from longtime limited partners.

“This milestone reflects the sustained demand we’re seeing for private credit, particularly for scaled platforms in the middle market,” said Anne Valentine Andrews, global head of private markets at Manulife Investment Management.

The fundraising comes nearly a year after Manulife agreed to acquire a 75% stake in Comvest Credit Partners’ private credit business. The August 2025 transaction, completed through Manulife’s global wealth and asset management division, created the Manulife | Comvest platform.

Manulife | Comvest managed $21.5 billion in assets as of March 31, 2026. The platform’s strategies span direct lending, specialty finance and other private credit opportunities serving middle-market borrowers and institutional investors.