Mercer Acquires SECOR Asset Management
Mercer has reached an agreement to acquire SECOR Asset Management, a global provider of bespoke strategic and portfolio solutions.
Terms of the transaction, which is expected to close in the second quarter of 2025, subject to regulatory approvals and client consents, were not disclosed.
Founded in 2010 by Tony Kao, Ray Iwanowski and partners, SECOR services institutional investors in a variety of needs including pension funds, insurance companies, endowments and family offices, with a range of solutions comprising of investment advisory and implementation, fiduciary management and asset liability management. It has $13.8 billion in assets under advisement (AUA) and $21.5 billion in assets under management (AUM) as of September 30, 2024.
Michael Dempsey, Mercer’s Wealth president, said, “SECOR’s exceptional team is highly regarded in the industry for their extensive experience working with in-house investment teams and proven expertise in specialized investment implementation. We are thrilled at the opportunity to welcome this talented group and to continue developing a comprehensive and agile suite of solutions designed for the distinct needs of institutional investors.”
Kao, SECOR’s managing principal and chief investment officer, said, “It’s terrific that our colleagues will have the opportunity to advance their careers at Mercer and that our clients will benefit from access to Mercer’s extensive global resources, valued insights and seasoned investment talent once the transaction is finalized. Having served as both an in-house Chief Investment Officer and a partner to clients, I believe that Mercer is the ideal steward for our business’s future.”
As part of the agreement, SECOR’s more than 40 colleagues in New York and London will join Mercer upon completion of the transaction.
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Amanda Umpierrez is the Managing Editor of 401(k) Specialist magazine. She is a financial services reporter with over six years of experience and a passion for telling stories and reporting news. Amanda received her degree in journalism and government and politics at St. John’s University. She is originally from Queens, New York, but now resides in Denver, Colorado with her partner. In her free time, Amanda enjoys running, cooking, and watching the latest drama show.
