Comvest Partners' Private Credit Business to be Acquired by Manulife

Core Insights - AMG has entered into an agreement to sell its interest in Comvest Partners' private credit business to Manulife Financial Corporation, marking a significant strategic move for the company [1][4] - The partnership between AMG and Comvest has led to substantial growth in Comvest's assets under management, increasing from $2 billion to $14 billion over five years [2][3] - AMG is expected to receive approximately $285 million in cash consideration from the transaction, reflecting a significant gain on its investment [3] Company Overview - AMG is a strategic partner to independent investment management firms globally, focusing on generating long-term value through investments in high-quality, partner-owned firms [5] - As of June 30, 2025, AMG's aggregate assets under management were approximately $771 billion, covering a diverse range of investment strategies [5]