Gallivan Financial Acquires Two Firms to Reach €1 Billion in Assets Under Management.

Gallivan Financial has acquired Mount Street Group and Kelly O'Shea Pensions & Financial Services, bringing its assets under management to €650 million. The company aims to expand and become a significant player in the Irish wealth management sector, with plans to reach €1 billion in assets under management by year-end. Further acquisitions are planned for the remainder of the year.

Manulife Financial Corporation has announced the acquisition of Comvest's private credit business from Affiliated Managers Group (AMG) for a total consideration of $285 million. The transaction is expected to close in the fourth quarter of 2025 and will significantly enhance Manulife's private credit platform.

Comvest Credit Partners, with $14 billion in assets under management, focuses on providing flexible financing solutions to middle-market companies. The acquisition will see Manulife receive the private credit business, while AMG will retain its interest in Comvest's private equity business and receive $285 million in cash.

The deal aligns with Manulife's strategy to increase earnings from its highest potential businesses. The acquisition is expected to be immediately accretive to core EPS, core ROE, and core EBITDA margin, contributing to the strong growth trajectory of Manulife's Global Wealth and Asset Management business [1].

Phil Witherington, Manulife's President & Chief Executive Officer, stated, "This acquisition further enhances our private markets platform by adding differentiated capabilities in private credit. The transaction is expected to be immediately accretive to core EPS, core ROE, and core EBITDA margin, it will contribute to the strong growth trajectory of our broader Global Wealth and Asset Management business" [1].

Paul Lorentz, President & CEO of Manulife Wealth and Asset Management, added, "We are excited to see the continued growth and maturity of private credit as an asset class, providing flexible, tailored financing to businesses that are underserved by traditional lenders, while offering investors attractive, risk-adjusted returns. We are thrilled to welcome Comvest's exceptionally talented team of investment professionals" [1].

Robert O'Sullivan, Co-Founder and CEO of Comvest, will be appointed Head of the newly aligned business, reporting directly to Anne Valentine Andrews, Global Head of Private Markets. The new platform, Manulife | Comvest, will complement Manulife's existing public market alternative credit platform, Manulife | CQS Investment Management, positioning the company to offer the full spectrum of credit solutions to clients [1].

The acquisition is expected to close in the fourth quarter of 2025, subject to customary closing conditions and approvals. Morgan Stanley & Co. LLC is acting as exclusive financial advisor to Manulife on the transaction, and Skadden, Arps, Slate, Meagher & Flom LLP is serving as legal advisor [1].

References:
[1] https://www.prnewswire.com/news-releases/manulife-to-acquire-comvest-credit-partners-creating-a-leading-private-credit-platform-302523650.html