Transaction to complement Mercer's existing investment consulting

Transaction to complement Mercer's existing investment consulting

Transaction to complement Mercer's existing investment consulting

The FINANCIAL -- Mercer, a global consulting company in advancing health, wealth and career, and a wholly owned subsidiary of Marsh & McLennan Companies, has signed a definitive agreement to acquire the investment consulting, alternatives consulting and wealth management operations of Pavilion Financial Corporation. Pavilion, a diversified, global investment services firm with approximately 300 employees, is headquartered in Winnipeg, Canada with offices across North America, in London and in Singapore.

“Pavilion is a leading global investment services firm with great leadership talent supporting strong consulting and research capabilities, particularly for alternative investments. In the US, Pavilion is a leading specialist in the defined contribution, endowment and foundation, healthcare and insurance sectors. In Canada, Pavilion has a strong presence in private wealth management.” said Rich Nuzum, President, Mercer’s global Wealth business. “Together, our complementary capabilities will enhance our ability to serve our clients.”

In June 2017, Pavilion was ranked 13th in worldwide assets under advisement (US$685 billion) and has been recognized in the past three years as a Greenwich Quality LeaderSM for its traditional investment consulting.

Daniel Friedman, the President and CEO of Pavilion Financial Corporation said, “In only a few years, we have assembled one of the industry’s top consulting teams, with deep expertise in specialized areas such as alternatives, not-for-profit healthcare and retirement benefit consulting, all with the objective of supporting the evolving needs of our clients. Combining our creativity and knowledge base with Mercer’s global research resources will further enhance our team’s ability to serve our clients across the continuum of advisory and delegated services.”

Mercer intends to use the Pavilion brand for investment consulting services provided to the institutional not-for-profit (NFP) and insurance client segments post-close. As part of Mercer, Pavilion clients will have access to Mercer’s industry-leading global strategic and manager research and investment capabilities, including outsourced chief investment officer and digital delivery capabilities, while retaining access to customized, strategic advice delivered by a specialist consultant.

This transaction is subject to customary conditions to closing, including regulatory and shareholder approvals, and is expected to close in Q4.