Key Takeaways
- • Manulife Financial Corporation (TSX: MFC), through its more than US$900 billion Global Wealth and Asset Management segment, completed its acquisition of a 75% interest in Comvest Credit Partners, Comvest's direct lending platform, per a Business Wire release dated November 3, 2025.
- • The combined platform will operate as Manulife | Comvest Credit Partners and will be led by Robert O'Sullivan, Global Head of Private Credit, who previously served as Co-Founder and CEO of Comvest Credit Partners.
- • Comvest Private Equity is not part of the transaction, remains independent, and will be rebranded in the coming months, with Maneesh Chawla continuing as Managing Partner and no changes to its investment team, resources, or strategy.
- • Michael Falk, Founder and Executive Chairman of Comvest, will serve as Senior Advisor and Investment Committee member of Manulife | Comvest Credit Partners and as Executive Chairman of Comvest Private Equity.
Summary
Comvest Partners, a West Palm Beach, Florida-based private investment firm, announced the completion of a previously disclosed strategic partnership under which Manulife Financial Corporation sold a 75% interest in Comvest Credit Partners, the firm's direct lending investment platform, to Manulife through its Global Wealth and Asset Management (Global WAM) segment, which the company describes as having more than US$900 billion in assets. The transaction is structured as a majority sale, and the release does not disclose a purchase price.
The resulting platform, Manulife | Comvest Credit Partners, is intended to combine Comvest's expertise in U.S. middle-market direct lending with Manulife Investment Management's private equity sponsor network, deal sourcing capabilities, and global distribution. Comvest states the combined platform will enhance origination strength, broaden access to potential third-party capital, and offer differentiated credit solutions to founder-owned and sponsor-backed businesses. Robert O'Sullivan, previously Co-Founder and CEO of Comvest Credit Partners, will lead the platform as Global Head of Private Credit. In his statement, O'Sullivan said the partnership affirms Comvest's leadership in private credit and that the firm remains focused on strong, risk-adjusted returns across market cycles.
Michael Falk, Founder and Executive Chairman of Comvest, said the firm had built a middle-market direct lending platform nearly 20 years ago and described Manulife as an ideal partner. Falk will serve as Senior Advisor and Investment Committee member of the new credit platform and as Executive Chairman of Comvest Private Equity.
Comvest Private Equity, the firm's private equity platform, is not part of the transaction. According to the release, it will remain independent and be rebranded in the coming months. Managing Partner Maneesh Chawla will continue to lead the team, with no changes to its investment team, resources, or strategy, which focuses on control investments in middle-market companies alongside founders and management teams. Falk said the private equity and private credit businesses had always operated independently.
The resulting platform, Manulife | Comvest Credit Partners, is intended to combine Comvest's expertise in U.S. middle-market direct lending with Manulife Investment Management's private equity sponsor network, deal sourcing capabilities, and global distribution. Comvest states the combined platform will enhance origination strength, broaden access to potential third-party capital, and offer differentiated credit solutions to founder-owned and sponsor-backed businesses. Robert O'Sullivan, previously Co-Founder and CEO of Comvest Credit Partners, will lead the platform as Global Head of Private Credit. In his statement, O'Sullivan said the partnership affirms Comvest's leadership in private credit and that the firm remains focused on strong, risk-adjusted returns across market cycles.
Michael Falk, Founder and Executive Chairman of Comvest, said the firm had built a middle-market direct lending platform nearly 20 years ago and described Manulife as an ideal partner. Falk will serve as Senior Advisor and Investment Committee member of the new credit platform and as Executive Chairman of Comvest Private Equity.
Comvest Private Equity, the firm's private equity platform, is not part of the transaction. According to the release, it will remain independent and be rebranded in the coming months. Managing Partner Maneesh Chawla will continue to lead the team, with no changes to its investment team, resources, or strategy, which focuses on control investments in middle-market companies alongside founders and management teams. Falk said the private equity and private credit businesses had always operated independently.
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