Updated with correction
Jeff Hammer and Paul Sanabria joined Manulife Investment Management on Monday as senior managing directors and global co-heads of the firm's new private capital secondary investment business.
A Manulife spokesman said in an email that the two will build a global business focusing on general partner-led and special situations transactions on the alternative investments secondary markets.
The two men have worked together for more than 20 years. Over the past 10 years, Messrs Hammer and Sanabria worked at investment banker Houlihan Lokey, where they built and led a secondary investment consulting business. Both report to Vipon Ghai, a senior managing director and global head of private equity and credit at Manulife Investment Management.
David Andrias and Richard Saltzman, both senior vice presidents at Houlihan Lokey, have taken over for Messrs Hammer and Sanabria, Mr. Andrias said in an email.
"Rich and I are longtime members of the team and, following Jeff and Paul's departure in July, we took over the GP and Fund Advisory clients that they oversaw," Mr. Andrias said.