Comvest Partners, a private investment firm, completed a previously announced strategic partnership involving the sale of a 75% interest in Comvest Credit Partners, its direct lending investment platform, to Manulife Financial, through its more than $900 billion global wealth and asset management (WAM) segment. Comvest Private Equity, Comvest’s private equity platform, is not part of this transaction, will remain independent and will be rebranded in the coming months.
The new private credit platform, Manulife | Comvest Credit Partners, will unite Comvest’s expertise in U.S. middle-market direct lending with Manulife Investment Management’s private equity sponsor network, deal sourcing capabilities and global distribution network. The combined platform will be led by Robert O’Sullivan, global head of private credit, previously the co-founder and CEO of Comvest Credit Partners.
“We are honored to join the Manulife organization and look forward to the significant opportunities this strategic partnership will create in expanding and strengthening our private credit capabilities. Together, we are positioned to broaden our reach, enhance our investment platform and deliver differentiated opportunities for our investors,” O’Sullivan said. “This partnership further affirms Comvest’s established leadership in the private credit market, positioning Manulife | Comvest Credit Partners for continued growth and enabling us to better serve the evolving needs of borrowers and investors alike. Our unwavering focus remains on seeking to deliver strong, risk-adjusted returns across all market cycles.”
Michael Falk, founder and executive chairman of Comvest, said, “Armed with long established middle market private equity resources and experience, we set out nearly 20 years ago to build a best-in-class middle market direct lending platform. I am especially grateful to our credit leadership team and to our investors for their consistent support. I am thrilled about the strategic positioning and outlook that the combined Manulife | Comvest Credit Partners platform will bring to our investors, borrowers and broader private credit organization. With Manulife’s existing credit capabilities, I am truly confident that we have found an ideal partner as Comvest continues to invest in differentiated credit opportunities for our investors.”
Falk continued, “Our private equity and private credit businesses have always operated independently and I’m additionally excited about the investment performance and outlook of our private equity business as an independent entity.”
Falk will remain in involved in both companies. He will serve as senior advisor and investment committee member of Manulife | Comvest Credit Partners and executive chairman of Comvest Private Equity.
The Comvest Private Equity team will continue to be led by managing partner Maneesh Chawla with no changes to its investment team, resources or strategy — control investments in middle-market companies, partnering with founders and management teams to drive sustainable growth through capital, strategic guidance and operational support.
