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One of the Manulife offices on Bloor Street East.Glenn Lowson/The Globe and Mail

The push to attract new institutional investors is ramping up at Manulife Financial Corp., as the insurer brings on new leaders to fuel the five-year expansion plan for its private markets business.

Manulife said Monday that it appointed three senior managers to newly created roles, a response to some early success the asset management group has seen since being formed in late 2013.

Manulife's growing private markets group was created to attract new institutional investment in several target areas, including commercial real estate equity, commercial mortgage lending, and private placements. This built on Manulife's existing Hancock Natural Resource Group, a trio of farmland, timber and renewable energy investments, as well as private equity and oil and gas investment arms. Manulife Asset Management Private Markets had $98-billion in assets as of the end of March, including assets managed for the company's general fund.

Other insurers have also been seeking new capital from institutional groups at a time when a growing number of pension funds, sovereign wealth funds and others are seeking alternative assets to invest in. Sun Life Financial Inc. said last week that it would acquire Toronto-based real estate investment firm Bentall Kennedy Group, part of a bigger push to expand its institutional asset management business.

Kenneth Pogrin has been named global head of business development and chief operating officer. He will lead the expansion of the private markets business, rolling it out to new clients. He'll also oversee the development of new investment products, as well as mergers and acquisitions for the business. Mr. Pogrin has a background in law, having worked at firms such as Stikeman Elliott LLP. But he has most recently been chief counsel in North America at Manulife Asset Management, as well as with the company's private markets global business. He'll be based in Toronto.

The company appointed Jennifer Lundmark to head of real estate fundraising, focused on drumming up equity capital. She will continue to be based in Chicago, where she worked most recently for American Realty Advisors.

Sahezad Pardhan also recently took on the role of global chief financial officer of the private markets business. He's accountable for finishing the creation and implementation of a finance system that can support business growth. He previously worked at Oxford Properties Group, the real estate arm of the Ontario Municipal Employees Retirement System pension fund, and will continue to be based in Toronto.

"With our goal of growing our private asset management business significantly over the next five years, Ken's contributions to strategy will be of critical importance, and Jenn's role will be to expand relationships with major real estate investors across a wide range of global markets," said Kevin Adolphe, CEO of Manulife Asset Management Private Markets and Manulife Real Estate, in a statement.

"Sahezad's role in providing financial leadership, decision support and value added financial reporting and analysis will be key to making strategic decisions as we grow our business," he added.

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SymbolName% changeLast
C-N
Citigroup Inc
+0.67%63.17
FC-N
Franklin Covey Company
+1.54%38.89
MFC-N
Manulife Financial Corp
+1.34%24.99
MFC-T
Manulife Fin
+1.14%33.81
SLF-N
Sun Life Financial Inc
+0.53%54.67
SLF-T
Sun Life Financial Inc
+0.22%73.96

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