Comvest Credit Partners has entered into a definitive agreement to sell a 75% stake in its private credit business to Manulife, aiming to create an $18.4 billion AUM private credit asset management platform.

Information on the Target

Comvest Credit Partners is a prominent player in the middle market direct lending space, boasting $14.7 billion in assets under management (AUM) on its platform. As a private credit manager, Comvest specializes in providing tailored financing solutions for a broad range of companies, focusing on those that are founder-owned and sponsor-backed.

This strategic sale of a 75% stake in Comvest's private credit business to Manulife marks a significant milestone in the firm’s evolution, creating a robust partnership aimed at enhancing the capabilities and reach of their asset management services.

Industry Overview in the United States

The private credit market in the United States has experienced noteworthy growth over the last decade, driven by increased demand for flexible financing options from businesses looking for alternatives to t