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Press release
L&G and Manulife Wealth & Asset Management Announce Strategic Global Partnership
L&G and Manulife Wealth & Asset Management (Manulife WAM) today announced a long-term multi-faceted strategic partnership. It spans Distribution, Investment Management, and Product Development to enhance the global distribution reach of both firms, allowing them to meet growing client demand for comprehensive wealth and retirement solutions across Europe, Asia, the U.S.A., Canada, and Bermuda.
24 Mar 2026
Full press release
The partnership is designed to leverage Manulife WAM’s asset management capabilities and broad distribution channels in North America and Asia, along with L&G’s strengths as a global asset manager and its leading position in annuities and reinsurance1.
The multi-phase partnership is anticipated to cover a number of asset classes across public and private markets including Alternative Credit, Fixed Income, Multi-asset Solutions, and Real Estate, Infrastructure, and Natural Capital, as well as investment products such as Exchange Traded Funds (ETFs).
This partnership underscores the joint commitment to delivering diverse investment solutions and expanding access to differentiated strategies for institutional, retirement, and retail clients globally. It also reflects the shared strategic growth ambitions of Manulife WAM and L&G, with both firms prioritizing scaling new capabilities and strengthening their presence in key international markets.
L&G is a global asset manager with around £1.2 trillion in assets under management (AUM)2. It is a major global investor across private and public markets including in UK and European Real Estate, Index & ETFs, Active Fixed Income, Multi-asset, Liquid Alternatives, Cash and Liquidity funds, and Infrastructure. In 2025, it set out its plan to deliver international growth through a build, partner or buy strategy.
Manulife WAM is a highly diversified global wealth and asset management firm with more than CAD$1.3 trillion in assets under management and administration (AUMA). The firm’s strength comes from the diversity of its global asset management expertise and distribution capabilities - operating in 20 geographies, including 10 in Asia, and distributing innovative investment solutions across complementary distribution channels including Retail (intermediary), Retirement, Institutional, and Wealth.
Eric Adler, CEO of L&G Asset Management, stated: “This is another example of L&G consolidating its position as a global asset manager and delivering on our strategy to build, partner or buy as we drive international growth.”“Our new partnership with Manulife Wealth & Asset Management will broaden investor access to L&G’s public and private markets investment solutions and expand our global distribution reach. We see immense potential in our complementary investment capabilities working together to address increasing demand for retirement and wealth solutions.”
Paul Lorentz, CEO of Manulife WAM, commented: “We see tremendous opportunities for both organizations in this strategic partnership as we leverage our complementary strengths: our Canadian, U.S. and Asian asset management capabilities, along with breadth in distribution channels in North America and Asia, with L&G’s distribution capabilities and strength in global asset management. This strategic partnership will support the expansion of our product platform to bring a more comprehensive and competitive offering to all markets where we currently operate – reinforcing our commitment to be the number one choice for customers around the world.”
References:
1According to Fitch Ratings (2024); Legal & General Reinsurance Financial Information (2025).
2As announced in FY25 financial results on 11 March 2026.
Further information
