Manulife Investment Management announced 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.”
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“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.
SOURCE: PRNewswire