Manulife promotes Asia private equity head

Having joined the firm in 2008, Coppinger became a member of the private equity team two years later. He relocated to Hong Kong in 2016 as a managing director. The Canadian insurer currently has five investment professionals covering private equity in the region and is looking to expand.

Manulife has C$713 billion ($536 billion) in assets under management globally, 7% of which is in private markets, including mortgages, power and infrastructure, mezzanine debt, private placements, real estate, timber, agriculture, and private equity. Asia represents less than 10% of the private markets allocation, compared to an average of 15% among the firm’s global peers.

Earlier this year, the firm closed its debut global private equity fund-of-funds at $1.5 billion, seeding the portfolio with balance sheet interests in North American buyout and growth funds. Further growth is set to come from partnerships with other large entities and the acquisition of controlling stakes in proven GPs.

Last year, Manulife recruited Myron Zhu, formerly co-head of Asian private equity at Aberdeen Standard Investments, to head up private markets in the region. There are about a dozen people focused on private markets – as opposed to private equity specifically – and Zhu is the only one currently working exclusively with third-party capital.

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