Manulife Investment Management (IM) has completed its acquisition of multi-sector alternative credit manager CQS five months after it was first announced following approval from the UK Financial Conduct Authority.
Paul Lorentz
The firm confirmed that the move is set to expand its fixed income offering as investors continue to increase their exposure in the asset class and seek more sophisticated strategies.
Paul Lorentz, president and chief executive of Manulife IM, said: “With this acquisition, Manulife Investment Management is well-positioned to capitalise 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.”
Read more: Manulife Investment Management to acquire alternative credit manager, CQS
The CQS brand, which Manulife has acquired in the deal will be aligned, where possible, with the firm’s, with the co-branded logo set to be Manulife as Manulife | CQS Investment Management.
Soraya Chabarek, chief executive called Manulife IM the ideal home for CQS, adding: “This step marks the start of an exciting new chapter for our clients, our colleagues, and our alternative credit platform. Together, we will open significant new opportunities for our clients, who will benefit from the scale and capital strength of our new parent.”
Chabarek is set to retain her role, with other senior partners Craig Scordellis (CIO), and Jason Walker (CIO ABS) also staying on and reporting to her.