On November 15, 2023, Manulife Investment Management signed an agreement to acquire CQS, a prominent multi-sector alternative credit manager based in London. This deal, expected to close in early 2024, involves Manulife acquiring the CQS credit platform, with approximately US$13.5 billion in assets under management as of October 2023, and the CQS brand. The acquisition aims to enhance access to global investment solutions for clients of both companies.

Paul Lorentz, President and CEO of Manulife, highlighted the mutual benefits, noting CQS's robust performance and investment process. Soraya Chabarek, CEO of CQS, emphasized the shared client-focused culture and the benefits of Manulife's support for CQS's growth.

Founded in 1999 by Lord Hintze, CQS has evolved into a multi-sector credit platform under Chabarek's leadership, offering various credit strategies with integrated ESG principles. Post-acquisition, CQS will continue under Chabarek and her team, with plans for co-branding as Manulife | CQS Investment Management.

Lord Hintze's Directional Opportunities Fund and certain mandates are not part of the transaction. He plans to run these funds under a new firm.

Piper Sandler & Company and Simmons & Simmons LLP served as financial advisor and legal counsel to CQS, respectively.