Mercer, a subsidiary of Marsh & McLennan Cos, has agreed to acquire Swiss-based private markets manager and consultant SCM Strategic Capital Management for an undisclosed sum.
Following the acquisition, the entire SCM investment team will join Mercer.
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Stefan Hepp, founder and CEO of SCM will become global business leader – private markets at Mercer, and Ralph Aerni, CIO of SCM, will become global Co-CIO – private markets at Mercer together with Mike Forestner, currently director of private markets at Mercer.
Hepp and Aerni are also expected to join the alternatives investment committee of Mercer.
Julio Portalatin, president and CEO of Mercer, said: "We are prepared to invest in areas where we see an opportunity to anticipate client needs and to strengthen our advisory and investment management capability."
Phil de Cristo, president of Mercer Investments, said: "In fast-moving and increasingly complex markets, a growing number of clients are turning to Mercer for advice in this area."
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By GlobalDataHepp said: "Both Mercer and SCM have similar values and share a commitment to excellence and to delivering superior insights and solutions in the alternatives market."
At September 2014, Mercer had $108bn in assets under management, including $13bn in alternative assets under management.
Subject to regulatory approvals, the transaction is expected to close in the first quarter of 2015.
