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Manulife CQS
CQS launched in 1999 as a credit-focused hedge fund founded by Michael Hintze, a former CSFB trader who had been one of the earliest architects of...
Manulife CQS
CQS launched in 1999 as a credit-focused hedge fund founded by Michael Hintze, a former CSFB trader who had been one of the earliest architects of structured credit in Europe. The firm rose to prominence running convertible-bond and long/short credit strategies, surviving the 2008 crisis and later expanding into asset-backed securities, loans, and systematic equities. Hintze, an Australian-born investor and major Conservative Party donor, owned the firm outright until selling a majority stake to Manulife Investment Management in a deal announced in November 2023 and closed in early 2024. The firm's strategy spans three broad pillars: a directional credit business trading bonds, loans, and CDS across the capital structure; a structured credit arm focused on ABS, CLOs, and mortgage risk; and a systematic equities platform running factor-based long/short strategies. CQS has historically operated both commingled hedge funds and managed accounts for institutional allocators. Known positions over time have included European bank debt, aviation ABS, and convertible arbitrage books across multiple geographies, with trading desks in London and, previously, Hong Kong. At the time of the Manulife acquisition, CQS managed roughly $13.5 billion in assets, down from a mid-2010s peak above $18 billion, according to regulatory filings and press reports. Manulife folded the team into its $500-billion-plus global asset-management division, retaining the CQS brand and Hintze as a senior advisor. February 2024: Manulife closed the acquisition of CQS, rebranding the combined entity as Manulife CQS Investment Management (per Manulife press release, February 2024). The acquired business operates alongside Manulife's existing private-markets and public-asset teams. CQS's evolution from founder-owned hedge fund to captive platform inside a Canadian insurer is the structural differentiator. Unlike most multi-strategy firms that remain partnerships, Hintze monetized through a strategic sale to a permanent-capital buyer. The result is an asset manager with hedge-fund DNA but a balance-sheet parent, blurring the line between alternative boutique and institutional core — a model that offers allocators both the trading culture of a former prop-desk operation and the stability of insurance-company ownership.
General information
Firm type
Generalist
Year founded
1999
AUM
Undisclosed
Location
Region
Europe
Country
United Kingdom
City
London
Corporate office
London, United Kingdom
Principals
Michael Hintze
Founder
Sector focus
Frequently asked questions
Who runs investment decisions at Manulife CQS?
Michael Hintze founded CQS and served as its CEO and senior investment officer from 1999 until the Manulife acquisition in 2024. Post-acquisition, he transitioned to a senior advisor role, and the investment teams operate within Manulife Investment Management's broader multi-asset structure. Day-to-day portfolio management is run by the existing CQS credit and equities desks, now reporting into Manulife's public-markets leadership.
How is Manulife CQS structured after the acquisition?
Manulife acquired the CQS business in a deal announced in November 2023 and closed in February 2024, rebranding the combined credit and equities operation as Manulife CQS Investment Management. It is not a standalone partnership; it sits within Manulife's global asset-management division, which oversees more than $500 billion in total assets. The CQS brand and investment teams remain intact, but the entity now benefits from Manulife's balance sheet, distribution, and operational infrastructure.
What asset classes does Manulife CQS trade?
The platform covers directional credit — including bonds, loans, and CDS — as well as structured credit (ABS, CLOs, mortgage risk) and a systematic equities business running long/short factor strategies. It also has a history in convertible-bond arbitrage, which was the firm's flagship strategy for many years.
Does Manulife CQS run hedge funds or managed accounts?
Historically, CQS operated both — a suite of commingled hedge funds and a managed-account platform for large institutional allocators. Post-acquisition, the strategies are available through Manulife's fund vehicles and separate accounts, though the firm has retained key hedge-fund-style offerings for qualified investors.
What happened to CQS's AUM during the Manulife deal?
At the time the acquisition was announced, CQS managed approximately $13.5 billion, according to contemporaneous reports. That figure was down from a peak north of $18 billion in the mid-2010s, reflecting redemptions and strategy rationalization. Current AUM is not publicly broken out separately from Manulife's consolidated reporting.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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