Mergers & Acquisitions / Joint Ventures

Mercer adds endowment/foundation and alternatives focus via Hammond


Mercer is set to acquire Hammond Associates in the US to strengthen its position among endowments and foundations after deciding to stop advising US public defined benefit plans.

The purchase creates the third largest investment consulting firm serving endowments and foundations in the US. The deal also further enhances Mercer’s alternative research and investment capabilities. According to Mercer, the acquisition of Hammond positions the group in one of the fastest-growing segments of the US investment consulting space with growth of 10% annually versus 5% annual rate of growth for both corporate and public funds in the US.