Manulife Investment Management To Buy Multi-Sector Alternative Credit Manager CQS

(RTTNews) - Manulife Investment Management has agreed to acquire multi-sector alternative credit manager CQS.

Upon completion of the transaction, Manulife Investment Management will acquire the CQS credit platform and the CQS brand.

The acquisition of London-based CQS will give the clients of both Manulife Investment Management and CQS enhanced access to their complementary global investment solutions.

"We are pleased to enter into this agreement which we see as mutually beneficial to both firms as well for those who have been investing with CQS for decades," said Paul Lorentz, president and CEO, Manulife Investment Management. "CQS brings to our portfolio a proven investment process, robust performance, and expertise across market cycles, and a culture that has attracted both talent and flows into the firm. We are very excited for the opportunity as CQS's capabilities are a complement to our existing fixed income and multi-asset solutions business and a powerful addition to our global credit offering."

The transaction is expected to close in early 2024 subject to customary closing conditions and regulatory approvals. At close, CQS will begin the process of integrating with Manulife Investment Management over time.