Business
Manulife Investment Management Announces Close of $752 Million Manulife Capital Partners VII, L.P.
Manulife Investment Management Announces Close of $752 Million Manulife Capital Partners VII, L.P...
About this update from Manulife Financial Corporation
[{"type":"text","content":"\n \n \n \n Manulife Investment Management Announces Close of $752 Million Manulife Capital Partners VII, L.P.\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n US$ unless otherwise stated\n \n \n \n \n BOSTON\n \n \n ,\n \n \n March 5, 2024\n \n \n /CNW/ - Manulife Investment Management announced today the final close of Manulife Capital Partners VII, L.P. (MCP VII or the \"Fund\"), a\n \n US$752 million\n \n private credit fund.\n \n \n \n \n \n \n \n \n \n The Fund seeks to invest junior credit capital in U.S. middle market companies to target high yield with equity upside, providing contractual cash coupons and capital appreciation for investors. MCP VII is backed by a global investor base of institutional and private capital investors including a capital commitment from Manulife.\n \n \n \"We are pleased to have attracted interest in the Fund from a highly diversified investor base including both institutional and private capital investors who are looking for an opportunity to participate in company value creation,\" said\n \n Vipon Ghai\n \n , global head of private equity and credit, Manulife Investment Management. \"The successful fundraise demonstrates the strength and expertise of our team, the value we bring to our relationships with our sponsors, and the potential opportunities for our investors.\"\n \n \n \"Our investment approach includes a target mix of subordinated and second-lien debt and structured and common equity that allows for meaningful participation in growth that is balanced by the potential for double digit yield,\" said\n \n Josh Liebow\n \n , CFA, co-head of junior credit, Manulife Investment Management.\n \n \n \"We are excited to continue the strong legacy of bringing investors high yielding risk-adjusted unlevered returns. Since inception, our veteran team has deployed more than\n \n US$3.3 billion\n \n into 126 companies as a result in part of their experience and ability to bring flexible capital to a selective portfolio of companies that meet our investment criteria,\" added\n \n Matt Szwarc\n \n ...