Mercer has reached an agreement to acquire Secor Asset Management for an undisclosed amount.

The transaction is expected to close in the second quarter of 2025, subject to regulatory approvals and client consents, although the terms of the deal were not disclosed.

Secor was founded in 2010, and provides end-to-end portfolio solutions to pension funds, family offices, endowments, and other institutional investors.

The solutions provided include investment advisory and implementation, fiduciary management, and asset liability management.

It has $13.8bn in assets under advice and $21.5bn in assets under management, as at 30 September 2024.

More than 40 Secor staff in London and New York will join Mercer upon completion of the transaction.

“Secor’s exceptional team is highly regarded in the industry for their extensive experience working with in-house investment teams and proven expertise in specialised investment implementation,” Mercer wealth president, Michael Dempsey stated.

“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.”

Secor managing principal and chief investment officer, Tony Kao, added: “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 finalised.

“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.”

This article originally appeared on our sister title, PensionsAge.

---