Manulife investment arm brings in secondaries veterans to launch into asset class

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Manulife Investment Management has launched a new secondaries business to complement its private equity, credit, infra and real estate operations.

The firm has appointed Jeff Hammer and Paul Sanabria as global co-heads of the business, which will focuses on general partner-led and special situation transactions with private equity, private credit and secondary fund sponsors.

Hammer and Sanabria spent the past ten years together at Houlihan Lokey building and leading a secondary advisory business that executed over $15bn of private equity, private credit and other esoteric asset transactions.

Previously at Bear Stearns Asset Management they built and led Private Equity Advisors, a private equity investment group that invested capital into primary, secondary and co-investment transactions.

Manulife, through its global private equity and credit group, invests in private equity funds, co-investments and private credit securities (junior and senior financing), typically in collaboration with general partners.

Its private equity and credit assets under management were $6.5bn at the end of June, on behalf of third-party clients and Manulife’s general account.

Manulife Financial Corporation is a Canadian multinational insurance company and financial services provider headquartered in Toronto, Ontario, Canada.

The firm’s investment management division had C$844bn in assets under management at the end of June.

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