Toronto-headquartered Manulife Investment Management has created a new head of real assets role and hired Credit Suisse Asset Management’s global head of real estate Christoph Schumacher to fill the position.
As Manulife IM’s global head of real assets, private markets he will be responsible for defining the firm’s private real assets strategy and managing the operations as well as the development, launch, and growth of investment solutions world-wide.
Schumacher will oversee $42.9 billion AUM globally and the heads of each of Manulife’s real asset teams will report directly to him.
Manulife IM said the appointment reflects its growing private markets business, and the rising interest in real assets including real estate, infrastructure, timber and agriculture, “all of which have been key drivers of diversification offering sustainable and nature-based solutions”.
“As more of our clients seek solutions across a broad range of alternative asset classes, Christoph’s acumen and experience will help ensure Manulife Investment Management continues to meet our clients’ needs and help drive strong investment performance over the long-term,” said Steve Blewitt, global head of private markets.
Schumacher plans to relocate to Boston and reports to Steve Blewitt.