Manulife Investment Management has closed a second infrastructure fund at $4.65 billion with the backing of 29 limited partners and Manulife’s general account. Manulife Infrastructure Fund II will make equity investments in core and core-plus infrastructure assets. Manulife Investment Management is an investment arm of Canadian insurance and financial services firm Manulife Financial Corp.
Manulife Investment Management closes US$4.65 billion infrastructure fund
BOSTON, Nov. 30, 2021 /CNW/ – Manulife Investment Management announced today the final closing of Manulife Infrastructure Fund II, L.P. (“MIF II” or the “Fund”), a US$4.65 billion private fund pool with committed capital from 29 limited partners and Manulife’s general account. MIF II is the firm’s second infrastructure fund which will make equity investments in core and core-plus infrastructure assets. The Fund benefits from the substantial experience the Manulife Investment Management team has in investing in and managing diversified portfolios of infrastructure investments. Manulife Investment Management’s global private market capabilities – totaling more than US$54 billion – consist of real assets, including infrastructure, real estate, timberland, and agriculture, and private equity and credit.1
“We are pleased to announce such a successful fundraise which well-exceeded our target and the size of our first fund pool,” said Christoph Schumacher, head of real assets, Manulife Investment Management. “We are grateful to our investors who see the value of our differentiated investment strategy and commitment to building lasting partnerships.”
Manulife Investment Management raised its first infrastructure fund in 2018. Both funds are led by Recep Kendircioglu, co-portfolio manager and head of infrastructure investments, and John Anderson, co-portfolio manager and Manulife’s global head of corporate finance. Manulife Investment Management’s infrastructure investing strategy seeks to work with infrastructure operators looking for a knowledgeable and experienced capital partner.
“We appreciate the long-standing relationships that we have built with pioneering infrastructure operators who are keeping pace in an evolving industry and allow us to invest in a broad array of firms,” Mr. Kendircioglu said. “The Fund is backed by a knowledgeable and experienced team who will focus the majority of the Fund’s investments on infrastructure assets including renewable energy and storage, digital infrastructure, transportation, and regulated utilities.”
“MIF II is the largest fund that Manulife Investment Management has raised to date, and it reflects growing recognition of our private markets capabilities,” added Stephen J. Blewitt, global head of private markets, Manulife Investment Management.
Campbell Lutyens acted as the exclusive financial advisor to the Fund.
1 As of 09/30/21, private markets assets under management (AUM) information, on a fair value basis, represent private equity, private credit, real estate equity, infrastructure, timberland, and agriculture assets managed by Manulife Investment Management (Manulife IM) on behalf of external clients and Manulife’s general account.
About Manulife Investment Management
Manulife Investment Management is the global brand for the global wealth and asset management segment of Manulife Financial Corporation. We draw on more than a century of financial stewardship and the full resources of our parent company to serve individuals, institutions, and retirement plan members worldwide. Headquartered in Toronto, our leading capabilities in public and private markets are strengthened by an investment footprint that spans 18 geographies. We complement these capabilities by providing access to a network of unaffiliated asset managers from around the world. We’re committed to investing responsibly across our businesses. We develop innovative global frameworks for sustainable investing, collaboratively engage with companies in our securities portfolios, and maintain a high standard of stewardship where we own and operate assets, and we believe in supporting financial well-being through our workplace retirement plans. Today, plan sponsors around the world rely on our retirement plan administration and investment expertise to help their employees plan for, save for, and live a better retirement.
As of September 30, 2021, Manulife Investment Management’s assets under management and administration, including assets managed for Manulife’s other segments, totaled CAD $1.1 trillion (US $835 billion). Not all offerings are available in all jurisdictions. For additional information, please visit manulifeim.com.