06:44 AM EDT, 04/03/2024 (MT Newswires) -- Manulife Investment Management announced earlier Wednesday that it has completed its acquisition of multi-sector alternative credit manager CQS. The financial terms of the transaction were not disclosed.

The deal closing comes after the company received regulatory approval from the UK Financial Conduct Authority.

The company said it expects the acquisition to accelerate growth and advance its strategy as a global wealth and asset manager providing income solutions across the credit spectrum to retail, institutional and retirement investors.

"Many investors are looking to increase their exposure to fixed income within their portfolios by adding more sophisticated strategies within this asset class, and we are pleased to expand our offering in this space," said Manulife President and CEO Paul Lorentz.

CQS CEO Soraya Chabarek will remain in her role. Senior partners Craig Scordellis, CIO Credit, and Jason Walker, CIO ABS, will also continue in their roles.