Kirkland & Ellis Advised Comvest on Creation of a Leading Private Credit Asset Management Platform with Manulife
Kirkland & Ellis advised Comvest Credit Partners, a prominent middle market direct lending private credit manager with $14.7 billion in assets under management (AUM), on a definitive agreement to sell a 75% stake in its private credit business to Manulife.
As part of the transaction, Manulife’s Senior Credit team, which manages $3.7 billion AUM, will align with the Comvest team to form a stand-alone private credit asset management platform with a total of $18.4 billion AUM.
The strategic partnership is set to enhance Comvest’s established market position and accelerate its expansion within the founder-owned and sponsor-backed segments of private credit. The new platform will leverage Manulife’s reputation and capital access to meet increasing demand for private credit solutions while delivering strong risk-adjusted returns across market cycles.
The transaction is expected to close in the fourth quarter of 2025, subject to customary closing conditions and regulatory approvals.
The Kirkland & Ellis team included Christopher Gandia (Partner, New York), Jack Rossman (Partner, New York), Daniel Lavon-Krein (Partner, New York), Chris Kallos (Partner, Chicago), and Nick DiCrescenzo (Partner, Chicago).
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