Key Takeaways
- • Mercer, a business of Marsh McLennan (NYSE: MMC), completed its acquisition of SECOR Asset Management on May 2, 2025, after announcing the deal earlier; terms were not disclosed.
- • SECOR brings bespoke strategic and portfolio solutions for institutional investors, including investment advisory and implementation, fiduciary management and asset liability management, to Mercer's institutional client base.
- • SECOR reported $21.5 billion in assets under management as of September 30, 2024, comprising $13.8 billion in assets under advisement, $21.4 billion in hedged assets and $0.1 billion in fund strategies (figures as reported by SECOR; the arithmetic is internally inconsistent and should be verified against source filings).
- • More than 40 SECOR colleagues in New York and London are joining Mercer.
- • Mercer plans to establish a Global Investment Partnerships Group to serve in-house investment teams and large asset owners with customized solutions.
Summary
Mercer, a business of Marsh McLennan (NYSE: MMC), has completed its acquisition of SECOR Asset Management, according to a company announcement dated May 2, 2025. The deal was first announced earlier in the year with an expected close in the second quarter of 2025, subject to regulatory approvals and client consents. Terms of the transaction were not disclosed.
SECOR, which has offices in New York and London and has provided advisory services to institutional investors since 2010, offers end-to-end portfolio solutions including investment advisory and implementation, fiduciary management and asset liability management. Its clients include pension funds, insurance companies, endowments and family offices. SECOR reported $21.5 billion in assets under management as of September 30, 2024, though the breakdown provided ($13.8 billion under advisement, $21.4 billion in hedged assets and $0.1 billion in fund strategies) does not reconcile to that total and should be treated with caution.
Michael Dempsey, Mercer's Wealth President, said the acquisition expands Mercer's investment capabilities for its institutional client base and large asset owners globally, adding that the firm is better equipped to help sophisticated investors navigate markets and optimize asset allocation amid increasing uncertainty. SECOR's Managing Principal and Chief Investment Officer Tony Kao described the deal as a pivotal step for mutual clients, positioning the firm to respond to the evolving investment landscape with greater agility and innovation.
Following the acquisition, Mercer intends to set up a specialist Global Investment Partnerships Group, drawing on experts across the organization to serve in-house investment teams and large asset owners with customized solutions and strategic portfolio structuring. More than 40 SECOR colleagues in New York and London are joining Mercer as part of the agreement.
SECOR, which has offices in New York and London and has provided advisory services to institutional investors since 2010, offers end-to-end portfolio solutions including investment advisory and implementation, fiduciary management and asset liability management. Its clients include pension funds, insurance companies, endowments and family offices. SECOR reported $21.5 billion in assets under management as of September 30, 2024, though the breakdown provided ($13.8 billion under advisement, $21.4 billion in hedged assets and $0.1 billion in fund strategies) does not reconcile to that total and should be treated with caution.
Michael Dempsey, Mercer's Wealth President, said the acquisition expands Mercer's investment capabilities for its institutional client base and large asset owners globally, adding that the firm is better equipped to help sophisticated investors navigate markets and optimize asset allocation amid increasing uncertainty. SECOR's Managing Principal and Chief Investment Officer Tony Kao described the deal as a pivotal step for mutual clients, positioning the firm to respond to the evolving investment landscape with greater agility and innovation.
Following the acquisition, Mercer intends to set up a specialist Global Investment Partnerships Group, drawing on experts across the organization to serve in-house investment teams and large asset owners with customized solutions and strategic portfolio structuring. More than 40 SECOR colleagues in New York and London are joining Mercer as part of the agreement.
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