Skadden is advising Manulife Financial Corporation in connection with its announcement that Manulife, through its more than $900 billion Global Wealth and Asset Management segment, has signed an agreement to acquire 75% of Comvest Credit Partners for $937.5 million in upfront consideration. As part of the agreement, Manulife will align its $3.7 billion Senior Credit team with Comvest, creating an $18.4 billion private credit asset management platform. Manulife intends to co-brand the new platform as Manulife | Comvest. In addition to the upfront consideration, Comvest will be eligible for additional consideration of up to $337.5 million, contingent on achieving certain performance targets.
The Skadden team is led by Elena Coyle and Patrick Lewis.