Mercer has completed the acquisition of fiduciary and outsourced CIO specialist SECOR Asset Management and now plans to set up a specialist Global Investment Partnerships group.
“Comprised of a network of experts from across the organisation, the group will focus on seamlessly serving in-house investment teams and large asset owners and addressing their unique and complex needs with customised solutions and strategic portfolio structuring and execution,” it said.
The terms of the transaction were not disclosed. SECOR’s more than 40 staff in New York and London are joining Mercer.
New York-based SECOR began providing advisory services to European pension funds on the back of opening an office in London in 2021 and is ranked 65th largest European institutional manager, with €31bn in assets under management, according to IPE’s 2024 Top 500 Asset Managers. The firm offers investment advisory, implementation and LDI management, alongside customised alternatives programmes and equity downside protection.
One of its clients is the €1.6bn Dutch pension fund of the petcare-to-confectionary multinational Mars, but the CIO said nothing would change in the service provided to the pension fund.
“Each party will continue to execute the current service agreement,” he said.
Mercer is one of the largest investment consultants and fiduciary managers of pension funds. It said the acquisition of SECOR expanded its investment capabilities for its diverse institutional client base and large asset owners globally.
Michael Dempsey, Mercer’s wealth president, said: “We understand that each investment journey is unique, and with the added capabilities of SECOR, we are better equipped to help sophisticated investors navigate the markets and optimise asset allocation amid increasing uncertainty.”
SECOR’s managing principal and chief investment officer Tony Kao added: “This acquisition represents a pivotal step forward for our mutual clients, positioning us to respond to the evolving investment landscape with greater agility and innovation.”
The latest digital edition of IPE’s magazine is now available
