Manulife IM Closes Sophomore PE Fund of Funds at $810M

Manulife Investment Management (Manulife IM) has closed its second private equity fund of funds, Manulife Private Equity Partners II, with commitments totaling roughly $810 million.

The fund was seeded with an existing portfolio selected in partnership with AlpInvest, a subsidiary of global investment firm Carlyle, consisting of private equity fund interests and co-investments in North American buyout funds with more than 30 leading private equity managers.

Richard Tarr, managing director of private equity funds at Manulife IM, will lead the management of the fund, which he said, “brings a diverse portfolio of investments and the potential for growth and value creation to investors who seek access to the expertise and knowledge of multiple managers across sectors and industries.”

Manulife IM’s private equity and credit platform manages over $25 billion in assets globally, focusing on various investment strategies in North American and Asian middle markets.

The firm recently closed Manulife Capital Partners VII with $752 million to invest in junior credit capital in U.S. middle market companies and the hire of Anne Valentine Andrews from BlackRock as global head of private markets.

AlpInvest manages $80 billion in assets and has invested with over 360 managers, committing about $100 billion across various private equity transactions.