Mercer, a business of Marsh McLennan and a global leader in helping clients realize their investment objectives, announced that it reached an agreement to acquire SECOR Asset Management, a global provider of bespoke strategic and portfolio solutions. The terms of the deal, which is expected to close in the second quarter of 2025, subject to regulatory approvals and client consents, were not disclosed.
Launched in 2010 by Tony Kao, Ray Iwanowski and partners, SECOR addresses the complex needs of institutional investors, including pension funds, insurance companies, endowments and family offices, with a range of end-to-end portfolio solutions, including investment advisory and implementation, fiduciary management and asset liability management. And it has $13.8 billion in assets under advisement and $21.5 billion in assets under management as of September 30, 2024.
As part of the deal, SECOR’s more than 40 colleagues in New York and London will join Mercer upon completion of the transaction.
KEY QUOTES:
“SECOR’s exceptional team is highly regarded in the industry for their extensive experience working with in-house investment teams and proven expertise in specialized investment implementation. We are thrilled at the opportunity to welcome this talented group and to continue developing a comprehensive and agile suite of solutions designed for the distinct needs of institutional investors.”
– Michael Dempsey, Mercer’s Wealth President
“It’s terrific that our colleagues will have the opportunity to advance their careers at Mercer and that our clients will benefit from access to Mercer’s extensive global resources, valued insights and seasoned investment talent once the transaction is finalized. Having served as both an in-house Chief Investment Officer and a partner to clients, I believe that Mercer is the ideal steward for our business’s future.”
– Tony Kao, SECOR’s Managing Principal and Chief Investment Officer
