Regarding AC Milan’s corporate affairs, today’s edition of 'La Gazzetta dello Sport' runs the following headline this morning:
"Comvest for Elliott: refinancing a matter of days."
It is expected to be a matter of just a few days, perhaps a week, before Manulife Comvest, a private credit platform headquartered in Toronto, Canada, is ready to replace Elliott as the lender. RedBird would therefore repay the debt created by the vendor loan agreed in 2022, which today, including interest, amounts to more than €550 million.
But what kind of fund is Manulife Comvest?
It is a private credit platform formed through the integration of Manulife Investment Management, the Canadian asset-management giant, and Comvest Credit Partners, a US firm that has been active for over 25 years in direct lending to mid-sized companies. Manulife is a global group, present in North America, Asia and Europe, with hundreds of billions of dollars under management across insurance and asset management. Comvest, for its part, has built a strong reputation over the years in the US private credit market. Their merger has created a platform that now manages around $18 billion in assets.
