Marsh & McLennan Cos.'s (MMC) subsidiary Mercer said Tuesday it agreed to a pair of acquisitions of investment consulting businesses.Mercer said it would acquire St. Louis-based investment consultant Summit Strategies Group.
Mercer said the acquisition will enhance its capabilities in the not-for-profit segment. Summit had about $160 billion under advisement as of Dec. 31.
Mercer also agreed to buy the investment consulting, alternatives consulting and wealth management operations of Pavilion Financial Corp. Pavilion, an investment services firm, is headquartered in Winnipeg, with offices across North America, in London and in Singapore.
In the U.S., Pavilion is a specialist in the defined contribution, endowment and foundation, health-care and insurance sectors, Mercer said. In Canada, Pavilion has a presence in private wealth management.
Both deals are expected to close in the fourth quarter.