The Central Bank of Ireland has authorised the Irish entity of Manulife Investment Management as an alternative investment fund manager (AIFM) with effect from 15 April 2021.

The decision enables Manulife to provide management company services to alternative managers in line with the EU's AIFM directive.

It also grants Manulife passporting rights across the European Economic Area for its private market funds.

These capabilities will be offered across Europe with an initial focus on Austria, Belgium, Denmark, Finland, France, Germany, Italy, Lithuania, Luxembourg, Netherlands, Norway, Spain, Sweden, Switzerland, and the UK.

Paul R. Lorentz, president and CEO, Manulife IM, said: "Achieving this licence is a critical milestone to further extend the reach of our global private markets business and is a strategic opportunity for European investors seeking access to the diversification and the potential benefits of private asset exposures."