Manulife Investment Management’s third fund will provide investors with exposure to a portfolio of private equity funds and North American buyout funds. Manulife is offering the fund in partnership with private investment house Ardian. (The Logic)

Talking point: Manulife’s wealth management segment is key to the firm’s growth and was a key contributor to fourth-quarter core earnings. Manulife’s private equity and credit platform has US$28 billion in assets under management. The Toronto-based firm purchased UK-based private credit manager CQS last year for an undisclosed amount. The U.S.-led global trade war has brought uncertainty to private equity, especially firms with portfolio companies that rely on international supply chains. In a research note Monday, National Bank analyst Gabriel Dechaine noted Manulife’s stock has underperformed its peers in April, suggesting investors might be concerned about the company’s focus on tariff-battered Asia.