Equity co-investments

We make direct equity investments, primarily in North American middle market companies, alongside private equity fund sponsors, on behalf of our general account and third-party clients.

  • $2.0B

    in capital deployed since 2006

  • 95

    co-investments

  • 52

    sponsors

Equity co-investment investing

We target noncontrolling equity investments in established, well-positioned businesses sponsored by top private equity funds and led by aligned and experienced management teams. We co-invest alongside private equity sponsors to help them appropriately manage their capital allocation and fund diversification objectives. We prioritize those investments that best fit the capabilities, resources and historical track record of the respective private equity firm acting as controlling owner. With deep and wide-ranging industry experience, we focus our diligence on the most critical issues facing the company and its industry while completing robust independent diligence on each transaction. Because we’ve been active in equity co-investing since 2006, we understand that it’s critical to make and communicate decisions promptly to avoid surprising or delaying our private equity partners.

  • Investment criteria

    We seek to support companies with the following characteristics:

    • Headquartered in North America or Europe
    • Involvement of an operationally oriented sponsor
    • Proven management teams
    • Meaningful competitive position in target markets
    • Favorable free cash flow generation with the capacity for significant growth
    • Operating and financial flexibility to manage through economic cycles
    • Demonstrated ability to grow
  • Industry focus

    Our investment team has deep knowledge across all major industries of focus for private equity firms.

Why partner with Manulife Investment Management?

Partnering with top middle market buyout firms and sponsors, we leverage our relationships with over 107 firms to create deal flow, gain market insight, and help leading middle market firms and their underlying companies. As an equity investor in a non-control capacity, our Investments typically feature:

  • Investment monitoring role tailored to our ownership stake in the business

  • Reliance on the controlling PE sponsor to effectively oversee the strategic direction of the company and execute against the value creation plan established for the investment

  • Certain protective rights that include pre-emptive rights, tag-along and registration rights as well as certain other minority protections

  • An investment horizon of 5 to 7 years with the ability to hold for longer

Over a dozen years of co-investing in NA buyouts

  •  

All information as of March 31, 2021, unless otherwise noted. All dollar amounts are in USD and may be rounded to the nearest billion.