By Adriano Marchese

The global wealth and asset management arm of Canadian insurer Manulife Financial has agreed to acquire London-based alternative credit manager CQS for an undisclosed amount.

Manulife Investment Management said Wednesday the acquisition offers both entities access to their complementary global investment solutions. Investment Management said Wednesday the acquisition offers both entities access to their complementary global investment solutions.

The CQS credit platform has about $13.5 billion in assets under management as of end of October, the company said.

"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," Manulife Investment Management Chief Executive Paul Lorentz said.

The transaction is expected to close in early next year.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

November 15, 2023 09:43 ET (14:43 GMT)

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