Mercer To Acquire Vanguard's U.S. Outsourced Chief Investment Officer Business; No Financial Terms Disclosed
Portfolio Pulse from Benzinga Newsdesk
Mercer, part of Marsh McLennan (NYSE:MMC), is set to acquire Vanguard's U.S. Outsourced Chief Investment Officer (OCIO) business, which serves not-for-profit organizations and other institutional investors. The acquisition will see Vanguard's OCIO team of approximately 120 people join Mercer. Financial terms were not disclosed, and the transaction is expected to close in the first quarter of 2024.
December 05, 2023 | 6:06 pm
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Marsh McLennan's Mercer is acquiring Vanguard's U.S. OCIO business, potentially enhancing its services in investment management for not-for-profit and institutional investors.
The acquisition of Vanguard's U.S. OCIO business by Mercer could lead to an expansion of services and client base for Marsh McLennan, which may be viewed positively by investors. The addition of Vanguard's team and their expertise could strengthen Mercer's position in the market, potentially leading to increased revenue and growth opportunities in the long term. However, as financial terms were not disclosed and the transaction is expected to close in 2024, the immediate financial impact is uncertain.
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