Manulife to acquire Michael Hintze’s CQS
Manulife Investment Management announced on Wednesday that it has agreed to acquire Lord Michael Hintze’s alternative credit manager CQS.
The CQS credit platform has $13.5bn in assets under management as of October 31. It was founded by Hintze, a prominent Conservative party donor, in 1999.
“I’m delighted that CQS has found the right partner in Manulife Investment Management. It provides a long-term platform that will enable CQS to thrive as a leading alternative credit manager for years to come under Soraya’s exceptionally able leadership. I will now focus full-time on running the Directional Opportunities Fund,” said Hintze.
The Directional Opportunities fund will spin out into a new firm that Hintze will personally manage.
No financial details of the CQS acquisition were disclosed. The transaction is expected to close in early 2024, subject to regulatory approval.