Mercer to Acquire Investment and Alternatives Consulting, and Wealth Management Operations of Pavilion Financial Corporation
Transaction to complement Mercer’s existing investment consulting, alternatives and wealth management offerings
August 14, 2018 – Global, New York/London
Mercer, a global consulting leader in advancing health, wealth and career, and a wholly owned subsidiary of Marsh & McLennan Companies (NYSE:MMC), has signed a definitive agreement to acquire the investment consulting, alternatives consulting and wealth management operations of Pavilion Financial Corporation (together “Pavilion”). 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)1 and has been recognized in the past three years as a Greenwich Quality LeaderSM for its traditional investment consulting2.
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.
Mercer delivers advice and technology-driven solutions that help organizations meet the health, wealth and career needs of a changing workforce. Mercer’s more than 23,000 employees are based in 44 countries and the firm operates in over 130 countries. Mercer is a wholly owned subsidiary of Marsh & McLennan Companies (NYSE: MMC), the leading global professional services firm in the areas of risk, strategy and people. With nearly 65,000 colleagues and annual revenue over $14 billion, through its market-leading companies including Marsh, Guy Carpenter and Oliver Wyman, Marsh & McLennan helps clients navigate an increasingly dynamic and complex environment. For more information, visit www.mercer.com. Follow Mercer on Twitter @Mercer.
About Pavilion Financial Corporation and its subsidiaries
Founded in 2006, Pavilion Financial Corporation is an employee-owned investment services firm offering advice and execution services to institutional and other investors. Through its subsidiaries, Pavilion offers a comprehensive suite of integrated services such as non-discretionary and discretionary tradition and alternatives investment consulting and wealth management. Pavilion Advisory Group® offers investment consulting, advisory services, retirement benefit consulting, and implemented or discretionary solutions to corporate and public plan sponsors (DB and DC), not-for-profit healthcare systems, higher education endowments, foundations, and family offices. Pavilion Advisory Group is a registered trademark of Pavilion Financial Corporation, used under license by Pavilion Advisory Group Inc. in the U.S. and Pavilion Advisory Group Ltd. in Canada. Pavilion Alternatives Group® provides investment consulting services across alternative asset classes including private equity, private credit, real assets and hedge funds. Pavilion Alternatives Group is a registered trademark of Pavilion Financial Corporation, used under license by Pavilion Alternatives Group, LLC in the U.S., Pavilion Alternatives Group Limited in the UK, Pavilion Alternatives Group (Singapore) Pte Ltd., and Pavilion Advisory Group Ltd. in Canada.
For more information, visit www.pavilioncorp.com. Pavilion Investment House, a division of Pavilion Advisory Group Ltd., provides institutional-quality, fully integrated wealth management services to business owners, families and other investors.
(1)source: Pensions & Investments Research Center, as of June 30, 2017.
(2) source: Greenwich Association’s 2017 investment consultant rankings; https://www.greenwich.com/asset-management/consultants-help-institutions-prep-shift-market-environment