06:02 PM EDT, 08/06/2025 (MT Newswires) -- Manulife Financial ( MFC ) said Wednesday it agreed to acquire 75% of Comvest for $937.5 million as it looks to expand its global wealth and asset management business.

The company will integrate its own $3.7 billion Senior Credit team into the deal, resulting in a combined $18.4 billion private credit platform, it said.

The agreement allows Manulife the ability to acquire the remaining 25% stake in Comvest through a put/call option.

The transaction is expected to close in the fourth quarter of 2025.