Key Takeaways
- • Mercer names Garvan McCarthy as newly created Global Alternatives Chief Investment Officer, positioning the firm to expand private markets capabilities across private credit, private equity, real assets, and hedge funds.
- • McCarthy, EMEA and Asia CIO since 2022 and a 30-year Mercer veteran based in Dublin, will maintain his regional roles until a successor is appointed and continue as co-CEO of Mercer Alternatives AG.
- • Niall O'Sullivan assumes role of Global Chief Investment Officer effective May 1, leading overall investment strategy across the USD 44 billion globally managed platform.
- • Andrew McDougall promoted to U.S. CIO; Mike Sebastian, formerly of Syntrinsic, takes over as global head of multi-asset responsible for total portfolio construction across public and private asset classes.
- • Leadership restructuring aims to capture "fast rivers of capital" flowing into alternatives by deepening general partner relationships and scaling private markets solutions for institutional asset owners.
Summary
Mercer announced a comprehensive restructuring of its investment leadership on April 8, 2026, creating new chief investment officer roles and promoting senior executives to strengthen its alternatives and mainstream asset capabilities. The consulting and OCIO (outsourced chief investment officer) giant, managing over USD 44 billion globally, is repositioning to capitalize on the institutional investor shift toward private markets and alternative assets.
Garvan McCarthy, a 30-year Mercer veteran currently serving as EMEA and Asia Chief Investment Officer since 2022, has been named to the newly created role of Global Alternatives Chief Investment Officer. In this position, McCarthy will lead Mercer's global alternatives platform, overseeing investment teams focused on private-market asset classes including private credit, private equity, real assets, and hedge funds. McCarthy, based in Dublin, will continue in his regional CIO capacity until a successor is appointed and will maintain his role as co-CEO of Mercer Alternatives AG. The appointment reflects Mercer's three-decade track record building private markets expertise and expanding general partner relationships.
Separately, Niall O'Sullivan, Mercer's Global Solutions Chief Investment Officer, will assume the broader role of Global CIO effective May 1, overseeing the firm's overall investment direction. In a statement, O'Sullivan noted the strength of Mercer's "deep bench of talent with complementary experience" to drive innovation and expand client access to private markets solutions. Leadership changes also include Andrew McDougall's promotion to U.S. CIO, and Mike Sebastian, formerly global head of multi-asset at Syntrinsic, stepping into that vacated role to lead total portfolio construction across public and private asset classes. Kam Chang, who joined Mercer via the SECOR Asset Management acquisition, was named head of the investment partnerships group overseeing complex institutional mandates.
According to Hooman Kaveh, Mercer's Global Chief Investment Officer, these structural changes position the firm to deliver integrated, outcome-focused solutions as institutional clients navigate market uncertainty. The reorganization signals Mercer's strategic emphasis on capturing what leadership describes as "fast rivers of capital" flowing into alternatives, supported by deepened GP relationships and a track record of innovative private markets advisory and solutions for asset owners.
Garvan McCarthy, a 30-year Mercer veteran currently serving as EMEA and Asia Chief Investment Officer since 2022, has been named to the newly created role of Global Alternatives Chief Investment Officer. In this position, McCarthy will lead Mercer's global alternatives platform, overseeing investment teams focused on private-market asset classes including private credit, private equity, real assets, and hedge funds. McCarthy, based in Dublin, will continue in his regional CIO capacity until a successor is appointed and will maintain his role as co-CEO of Mercer Alternatives AG. The appointment reflects Mercer's three-decade track record building private markets expertise and expanding general partner relationships.
Separately, Niall O'Sullivan, Mercer's Global Solutions Chief Investment Officer, will assume the broader role of Global CIO effective May 1, overseeing the firm's overall investment direction. In a statement, O'Sullivan noted the strength of Mercer's "deep bench of talent with complementary experience" to drive innovation and expand client access to private markets solutions. Leadership changes also include Andrew McDougall's promotion to U.S. CIO, and Mike Sebastian, formerly global head of multi-asset at Syntrinsic, stepping into that vacated role to lead total portfolio construction across public and private asset classes. Kam Chang, who joined Mercer via the SECOR Asset Management acquisition, was named head of the investment partnerships group overseeing complex institutional mandates.
According to Hooman Kaveh, Mercer's Global Chief Investment Officer, these structural changes position the firm to deliver integrated, outcome-focused solutions as institutional clients navigate market uncertainty. The reorganization signals Mercer's strategic emphasis on capturing what leadership describes as "fast rivers of capital" flowing into alternatives, supported by deepened GP relationships and a track record of innovative private markets advisory and solutions for asset owners.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.