TORONTO, Nov. 11, 2013 /CNW/ - Manulife Financial today announced the
expansion of its global third party private asset management business.
The new business unit will be called Manulife Asset Management Private
Markets. The business unit will bring together specialized private
asset teams that currently manage funds for third party investors, as
well as provide investors access to Manulife Financial's other
specialized private asset investment teams that historically have
primarily served its general fund.
"We have invested successfully in these private asset classes for
decades and our investment teams are among the most experienced in the
business," said Warren Thomson, Senior Executive Vice President and
Chief Investment Officer, Manulife Financial and Chairman, Manulife
Asset Management. "We see a tremendous opportunity to develop
customized solutions for clients that wish to invest in private asset
classes." The new business unit will be headed by Kevin Adolphe,
President and Chief Executive Officer, Manulife Asset Management
Manulife Financial manages C$74 billion of private market investments
out of its total funds under management of C$575 billion. Collectively,
these private assets span across private placement debt, commercial
mortgages, timberland, farmland, real estate, private equity and
mezzanine debt, oil and gas and power and infrastructure assets.
Manulife Financial currently manages private assets for its own general
fund, and in some asset classes, for third party investors as follows:
With C$22.1 billion in assets under management ("AUM"), the private
placement debt team invests across a full range of utility, industrial,
and financial corporations as well as power, energy, renewable energy
and transportation projects.
The commercial mortgages team manages C$21.0 billion in AUM and provides
financing on a diverse mix of office, multi-family, industrial,
manufactured housing communities and retail and warehouse properties
across Canada and the United States, with loans sourced through its
regional offices located in both countries.
Hancock Natural Resource Group operates as three investment divisions:
Hancock Timber Resource Group, the largest global institutional manager
of timberland, manages C$11.5 billion in AUM and 6.5 million acres of
timberland worldwide on behalf of investors. Hancock Agricultural
Investment Group, with C$2.0 billion in AUM and 290,000 acres of
farmland under management worldwide, is one of the largest
institutional managers of agricultural real estate in the United
States. Hancock Renewable Energy Group is a newly formed business that
invests in biomass renewable energy projects in the United States.
With C$10.0 billion in AUM, Manulife's real estate operation has fully
integrated in-house capabilities and is an active investor, owner,
developer and asset manager of commercial real estate. The 37 million
square foot portfolio is diversified by geography and asset type and
consists primarily of prime office and industrial properties, as well
as select retail and multi-family residential properties in key
metropolitan centers throughout Canada, the United States and Asia.
Manulife also has combined AUM of C$7.3 billion in private equity,
infrastructure equity, mezzanine debt, and oil and gas. The private
equity and mezzanine debt teams invest capital in Canada and the United
States to participate in buyout financing and to provide growth capital
for middle market businesses. The infrastructure equity team invests
in a wide variety of infrastructure projects in the power generation
and transmission, energy, and transportation sectors. NAL Resources,
the company's oil and gas subsidiary, owns and operates over 18,770
barrel of oil equivalent per day of production in Saskatchewan and
central Alberta. Regional Power, the company's renewable energy
development company, is in the business of building and operating
hydroelectric power plants for Manulife and third parties with a total
generating capacity of 107 megawatts.
"One of our key priorities will be to leverage Manulife's investment
expertise in multiple private asset classes to manage funds for third
parties," said Adolphe. "To accomplish this, we plan to expand our
asset management activities by building on the success achieved by our
Hancock Natural Resource Group, in serving the needs of investors
About Manulife Asset Management Private Markets
Manulife Asset Management Private Markets has investment expertise in
several private asset classes, including commercial real estate,
timberland, farmland, renewable energy, oil and gas, private equity and
mezzanine debt. Manulife Asset Management Private Markets also partners
with Manulife Financial's specialized private asset investment teams to
invest in private placement debt and commercial mortgages. Hancock
Natural Resource Group, Manulife Real Estate, NAL Resources, Regional
Power, Manulife Capital, and Hancock Capital Management are units of
Manulife Asset Management Private Markets. As at September 30, 2013,
Manulife Financial's assets under management in private asset classes
were C$74 billion (US$72 billion), including assets managed by and for
Manulife Financial's general fund and third party clients.
Additional information may be found at ManulifeAM.com/PrivateMarkets.
About Manulife Asset Management
Manulife Asset Management is the global asset management arm of Manulife
Financial, providing comprehensive asset management solutions for
institutional investors and investment funds in key markets around the
world. This investment expertise extends across a broad range of
public, private, and alternative asset classes, as well as asset
allocation solutions. As at September 30, 2013, assets under management
for Manulife Asset Management were C$265 billion (US $258 billion).
Additional information about Manulife Asset Management may be found at ManulifeAM.com.
About Manulife Financial
Manulife Financial is a leading Canada-based financial services group
with principal operations in Asia, Canada and the United States.
Clients look to Manulife for strong, reliable, trustworthy and
forward-thinking solutions for their most significant financial
decisions. Our international network of employees, agents and
distribution partners offers financial protection and wealth management
products and services to millions of clients. We also provide asset
management services to institutional customers. Funds under management
by Manulife Financial and its subsidiaries were C$574.6 billion
(US$558.7 billion) as at September 30, 2013. The Company operates as
Manulife Financial in Canada and Asia and primarily as John Hancock in
the United States.
Manulife Financial Corporation trades as 'MFC' on the TSX, NYSE and PSE,
and under '945' on the SEHK. Manulife Financial can be found on the
Internet at manulife.com.
SOURCE: Manulife Financial Corporation
For further information:
In the United States:
Manulife Asset Management