Mercer, a global leader in redefining retirement and investment outcomes (and a business of Marsh McLennan), announced the successful fundraising for Mercer Private Investment Partners VII (PIP VII). The fund secured limited partner (LP) capital commitments totaling over $3.9 billion.
This is the seventh vintage in Mercer’s PIP series, which was designed to offer investors flexible access to a wide spectrum of global private markets, including private equity, private debt, infrastructure, real estate, natural capital, and sustainable opportunities. PIP invests in primaries, co-investments, secondaries, and other specialized offerings.
The commitments from a diverse group of new institutional investors, including endowments, foundations, and insurers, constitute a significant amount of the capital raised for PIP VII. In the UK, 80% of the capital raised for PIP VII was from new investors who had not previously committed to prior PIP vintages. And the US was the strongest region for net new LP growth overall, with more new LP capital committed to PIP VII than any other region.
Mercer, with over 30 years of experience in private markets, employs over 260 alternative professionals in 32 offices worldwide.
KEY QUOTES:
“Private investments – equity, credit and real assets – are core to our conversations with our largest and most sophisticated clients with our advice and solutions evolving to reflect market conditions. PIP VII offered our clients a compelling opportunity to invest in private markets aligned with our best thinking.”
- Niall O’Sullivan, Mercer’s Global Solutions Chief Investment Officer
“Mercer’s ability to retain strong commitments from existing clients and attract new capital from expanding client segments is a testament to our focus on meeting clients where they are across the governance continuum. Despite the challenging fundraising market over the past two years, we’ve seen strong resilience over most client segments, and as we look forward, appetite for private markets continues to grow across our global client base.”
“Our research finds that large asset owners, with an AUM of at least $5 billion, intend to build more exposure to infrastructure, private debt and private equity in 2024 and beyond. The rapid growth of private markets has expanded competition and complexity, making it harder to source and screen the investment universe and ultimately, discern the best managers. Mercer’s PIP solutions make us an ideal partner for institutional investors navigating these complexities by offering direct and diversified access to global and resource-intensive private markets opportunities.”
- Raelan Lambert, Mercer’s Global Alternatives Leader
