LONDON and TORONTO, April 3,
2024 /PRNewswire/ - Manulife Investment
Management announced today it has closed on the previously
announced agreement to acquire multi-sector alternative credit
manager CQS. Regulatory approval for this transaction was received
from the U.K. Financial Conduct Authority. The acquisition
accelerates growth for the firm and advances its strategy as a
leading global wealth and asset manager providing income solutions
across the credit spectrum to retail, institutional and retirement
investors.
As part of the transaction, Manulife Investment Management has
acquired the CQS brand and intends to align it with the Manulife
brand as a co-branded logo – Manulife | CQS Investment Management –
where permitted.
"With this acquisition, Manulife Investment Management is
well-positioned to capitalize on the increased investor interest in
alternative credit and accelerate the growth of our global
business. We are excited to complete this strategic acquisition
because of the tremendous opportunity to serve retail, retirement,
and institutional investors more deeply and unlock growth for our
clients," said Paul Lorentz,
President and CEO, Manulife Investment Management. "Many investors
are looking to increase their exposure to fixed income within their
portfolios by adding more sophisticated strategies within this
asset class, and we are pleased to expand our offering in this
space."
"Today sees the joining together of our two businesses as
Manulife | CQS Investment Management. Manulife IM is the ideal home
for CQS, and this step marks the start of an exciting new chapter
for our clients, our colleagues, and our alternative credit
platform," said Soraya Chabarek, CEO
of CQS. "Together we will open significant new opportunities for
our clients who will benefit from the scale and capital strength of
our new parent."
Ms. Chabarek will remain in her role as CEO of CQS. Senior
Partners Craig Scordellis, CIO Credit, and Jason Walker, CIO ABS will also continue in
their roles and report to Ms. Chabarek.
The financial terms of the transaction were not disclosed.
Piper Sandler & Company served
as exclusive financial advisor and Simmons & Simmons LLP served
as legal counsel to CQS in this transaction.
Issued and approved by Manulife Investment Management
(Europe) Limited. Registered in
England No.02831891. Registered Office: One
London Wall, London EC2Y 5EA. Authorised and regulated by
the Financial Conduct Authority.
About Manulife Investment
Management
Manulife Investment Management is the brand for the global
wealth and asset management segment of Manulife Financial
Corporation. Our mission is to make decisions easier and lives
better by empowering investors for a better tomorrow. Serving more
than 17 million individuals, institutions, and retirement plan
members, we believe our global reach, complementary businesses, and
the strength of our parent company position us to help investors
capitalize on today's emerging global trends. We provide our
clients access to public and private investment solutions across
equities, fixed income, multi-asset, alternative, and
sustainability-linked strategies, such as natural capital, to help
them make more informed financial decisions and achieve their
investment objectives. Not all offerings are available in all
jurisdictions. For additional information, please visit
manulifeim.com.
About Manulife | CQS Investment
Management
Manulife | CQS Investment Management is a multi-sector
alternative credit manager, wholly owned by Manulife Investment
Management. The firm has a 20+ year history of managing
research-driven credit strategies over multiple market cycles, with
core capabilities that span corporate credit (loans and bonds),
asset backed securities, regulatory capital, collateralized loan
obligations and convertible bonds. Our ambition is to continue to
help investors achieve their goals across market cycles by
selecting good quality credits and generating income. We are
committed to building enduring partnerships with investors,
generating long-term risk-adjusted returns and delivering high
levels of service, tailoring mandates across a range of return
objectives and risk appetites. For additional information, please
visit cqs.com.
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SOURCE Manulife Investment Management