Key Takeaways
- • Boston-based Meketa Investment Group is merging with Pension Consulting Alliance (PCA), a Portland, Ore., boutique investment consultant, according to The Wall Street Journal.
- • The combined firm would serve roughly 200 clients and employ about 190 people.
- • The deal comes as investment consulting firms face heightened competition and pressure on fees.
- • The combined firm is expected to operate under the name Meketa Investment Group, Inc., with integration planned for the first half of 2019.
Summary
Boston investment advisory firm Meketa Investment Group is merging with Pension Consulting Alliance, a Portland, Ore., boutique consultant, according to a Wall Street Journal report. The transaction would create a firm with roughly 200 clients and 190 employees. The Journal reported that the move comes as the investment consulting industry faces heightened competition and pressure on fees, conditions that have pushed consultants to seek greater scale.
The two firms described the transaction as an agreement to join forces. Meketa and PCA said the integration was expected to be completed in the first half of 2019, with the combined firm operating as Meketa Investment Group, Inc. The companies characterized the combination as bringing together two of the industry's most experienced and highly regarded firms.
Meketa was founded in 1974 as an investment partnership and was incorporated under Massachusetts law in 1978. Its private asset class consulting business is among the areas the combined firm will serve. PCA is a boutique consultant based in Portland, Ore.
The transaction is a further example of consolidation among investment consultants serving institutional clients such as pension plans, where scale can help firms absorb fee compression and broaden their service offerings.
The two firms described the transaction as an agreement to join forces. Meketa and PCA said the integration was expected to be completed in the first half of 2019, with the combined firm operating as Meketa Investment Group, Inc. The companies characterized the combination as bringing together two of the industry's most experienced and highly regarded firms.
Meketa was founded in 1974 as an investment partnership and was incorporated under Massachusetts law in 1978. Its private asset class consulting business is among the areas the combined firm will serve. PCA is a boutique consultant based in Portland, Ore.
The transaction is a further example of consolidation among investment consultants serving institutional clients such as pension plans, where scale can help firms absorb fee compression and broaden their service offerings.
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