Mercer, a subsidiary of Marsh McLennan, has completed the acquisition of SECOR Asset Management.

Financial details of the transaction were not shared.

The deal to acquire SECOR, which offers bespoke strategic and portfolio solutions, was signed in February this year.

This acquisition is set to enhance Mercer’s investment capabilities, allowing the firm to better serve its institutional clients and large asset owners worldwide.

SECOR, established in 2010 by Tony Kao, Ray Iwanowski, and their partners, provides a variety of portfolio solutions tailored to the needs of institutional investors, such as pension funds, insurance firms, endowments, and family offices.

SECOR managing principal and chief investment officer Tony Kao said: “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 acquisition, over 40 employees from SECOR, based in New York and London, have joined Mercer.

As of 30 September 2024, SECOR managed $21.5bn in assets.

With the integration of SECOR, Mercer plans to create a Global Investment Partnerships Group.

This new division will consist of a network of experts dedicated to providing tailored solutions and strategic portfolio management to in-house investment teams and large asset owners.

Mercer Wealth president Michael Dempsey said: “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 optimise asset allocation amid increasing uncertainty.”