Mercer, a subsidiary of Marsh McLennan, has completed its acquisition of SECOR Asset Management, a firm renowned for delivering bespoke portfolio solutions to institutional investors. This strategic move aims to bolster Mercer’s capabilities in serving large asset owners amid increasingly complex market dynamics.
SECOR, established in 2010, manages approximately $21.5 billion in assets, including $13.8 billion under advisement and $21.4 billion in hedged assets. The firm specializes in investment advisory, fiduciary management, and asset-liability strategies tailored for pension funds, insurance companies, endowments, and family offices.
“We are thrilled to welcome SECOR’s exceptional team to Mercer. As we move forward together, our commitment to being a dedicated partner to our clients’ portfolios remains unwavering. 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 optimize asset allocation amid increasing uncertainty,” said Michael Dempsey, Mercer’s Wealth President.
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Tony Kao, SECOR’s Managing Principal and Chief Investment Officer, 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.”
As part of the integration, over 40 SECOR employees from New York and London will join Mercer. The firm also plans to establish a Global Investment Partnerships Group, focusing on delivering customized solutions and strategic portfolio execution for large asset owners and in-house investment teams.
This acquisition aligns with Mercer‘s strategy to expand its Outsourced Chief Investment Officer (OCIO) services, building upon its existing $60 billion partnership with Vanguard. The addition of SECOR‘s expertise and assets under management positions Mercer to offer a more comprehensive suite of services to institutional clients.
