Mercer to Acquire SECOR Asset Management
Deal News | Feb 19, 2025 | Re-Insurance News
Mercer, a subsidiary of Marsh McLennan, has announced its intention to acquire SECOR Asset Management, a firm specializing in strategic and portfolio solutions. The financial terms remain undisclosed, but the deal is projected to finalize in the second quarter of 2025 contingent on regulatory and client approvals. SECOR was founded in 2010 and manages a significant portfolio with $13.8 billion in assets under advisement and $21.5 billion in assets under management as of September 2024. SECOR's team, including over 40 members from offices in New York and London, will be integrated into Mercer, strengthening its investment capabilities and offerings for institutional clients. The leaders of both companies express optimism about combining SECOR's niche expertise with Mercer's global resources to enhance their service offerings to institutional investors.
Sectors
- Asset Management
- Financial Advisory
Geography
- United States – SECOR Asset Management and Mercer's US operations, including their headquarters in New York, are central to this acquisition.
- United Kingdom – SECOR also operates in London, indicating a cross-border influence in the acquisition deal.
Industry
- Asset Management – SECOR Asset Management operates within the Asset Management industry by overseeing portfolios of institutional investors.
- Financial Advisory – Mercer and SECOR provide financial advisory services that include investment advisory and fiduciary management.
Financials
- 13.8 billion – Assets under advisement managed by SECOR as of September 2024.
- 21.5 billion – Assets under management by SECOR as of September 2024.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Mercer | Acquiring Company | Company | A global leader in health, wealth, and career consulting and a business unit of Marsh & McLennan. |
| Marsh McLennan | Parent Company | Company | A global professional services firm in the areas of risk, strategy, and people. |
| SECOR Asset Management | Target Company | Company | A provider of strategic and portfolio solutions for institutional clients founded by Tony Kao and partners. |
| Tony Kao | Managing Principal and CIO | Person | Co-founder and Chief Investment Officer of SECOR Asset Management. |
| Michael Dempsey | Mercer Wealth President | Person | President of Wealth at Mercer, involved in the SECOR acquisition. |