Key Takeaways
- • Mercer is acquiring the investment consulting, alternatives consulting and wealth management operations of Pavilion Financial Corp., according to Benefits Canada.
- • Pavilion is a global investment services firm with about 300 employees, headquartered in Winnipeg with offices across North America, London and Singapore.
- • The transaction is subject to customary closing conditions and is expected to close in the fourth quarter.
- • Pavilion clients will gain access to Mercer's global strategic and manager research, outsourced chief investment officer and digital delivery capabilities.
Summary
Mercer is acquiring the investment consulting, alternatives consulting and wealth management operations of Pavilion Financial Corp., according to a Benefits Canada report published in August 2018. Pavilion is a global investment services firm headquartered in Winnipeg, with about 300 employees and offices across North America, in London, England and in Singapore.
Daniel Friedman, president and chief executive officer of Pavilion, said in a press release that the firm had assembled one of the industry's top consulting teams in only a few years, with deep expertise in areas such as alternatives, not-for-profit health care and retirement benefits consulting. He said combining Pavilion's knowledge base with Mercer's global research resources would further enhance the team's ability to serve clients across the continuum of advisory and delegated services.
Following the acquisition, Pavilion clients will have access to Mercer's global strategic and manager research and investment capabilities, including outsourced chief investment officer and digital delivery capabilities. Jean-Philippe Provost, wealth business leader at Mercer Canada, said the acquisition would allow consultants and advisors to draw on industry-wide best practices and deliver optimal outcomes for clients.
The transaction is subject to customary conditions to closing and is expected to close in the fourth quarter. Financial terms were not disclosed in the source material. A planadviser report covered the parallel announcement that Mercer is acquiring investment consultant SECOR Asset Management.
Daniel Friedman, president and chief executive officer of Pavilion, said in a press release that the firm had assembled one of the industry's top consulting teams in only a few years, with deep expertise in areas such as alternatives, not-for-profit health care and retirement benefits consulting. He said combining Pavilion's knowledge base with Mercer's global research resources would further enhance the team's ability to serve clients across the continuum of advisory and delegated services.
Following the acquisition, Pavilion clients will have access to Mercer's global strategic and manager research and investment capabilities, including outsourced chief investment officer and digital delivery capabilities. Jean-Philippe Provost, wealth business leader at Mercer Canada, said the acquisition would allow consultants and advisors to draw on industry-wide best practices and deliver optimal outcomes for clients.
The transaction is subject to customary conditions to closing and is expected to close in the fourth quarter. Financial terms were not disclosed in the source material. A planadviser report covered the parallel announcement that Mercer is acquiring investment consultant SECOR Asset Management.
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