EUROPE - Mercer is to acquire a Norwegian investment and pension consulting firm, Pensjon & Finans as part of plans to strengthen its presence in the region.

The consultancy said the deal, for which financial details were not disclosed, would boost manager research and due diligence capabilities, including implemented consulting expertise.

According to Mercer, Pensjon & Finans, which was launched in 1997, has developed a solid market share in the institutional market, both in the public and private sector, over the past 15 years.

Subject to regulatory approval, the acquisition will also give existing clients of Pensjon & Finans access to Mercer’s broad range of services, the consultancy said.

Espen Kløw, chief executive at Pensjon & Finans, will become Mercer’s head of investment consulting in Norway once the deal has completed.

Caspar Holter, the founder of Pensjon & Finans, will continue to serve his clients at Mercer, the consultancy said.

Nicolai Berg, head of Mercer’s Nordic investment business, said: “Many institutions are requiring more specialist advice, as well as global capabilities, and the combination of the resources of Mercer and Pensjon & Finans will ensure our Norwegian clients will benefit from the acquisition.”