Mercer Buys Hammond To Boost Endowments, Hedge Funds

Nov 29 2010 | 9:34am ET

Consultancy Mercer has boosted its hedge fund and foundations and endowments business with a deal to buy rival Hammond Associates.

Terms of the deal were not disclosed. But Mercer, a subsidiary of Marsh & McLennan, said it expects the acquisition to close at the end of the year.

"Hammond has been a leader in investment consulting for endowments and foundations for 25 years, and more recently has invested in its hedge fund and alternatives research capabilities, complementing the investment Mercer has made in this area," said Jeff Schutes, Mercer's U.S. investment consulting leader. "In the current challenging investment market, we believe combining our resources will significantly improve our ability to help clients make informed, sound and strategic investment decisions."

Hammond is the third-largest consultancy to U.S. endowments and foundations.


In Depth

Q&A: TCA Fund Management's Bob Press on Small-Cap Private Equity

Aug 25 2016 | 8:55pm ET

The emergence of private credit as a replacement for traditional bank financing...

Lifestyle

Kiawah: Island Reversal

Aug 24 2016 | 9:59pm ET

Looking for real estate investments but the typical real estate fare isn’t cutting...

Guest Contributor

Old Hill Partners: Embrace Illiquidity

Aug 9 2016 | 2:39pm ET

The age-old financial concept that higher yields are the result of higher risk and...