Oslo and London: Global investment and pension consultant Mercer is to acquire the Norwegian firm Pensjon & Finans.
- Acquisition will strengthen the value proposition to existing clients of Pensjon & Finans
- Transaction strengthens Mercer's leadership role in investment consulting in the Nordic market
- Acquisition represents Mercer's commitment to investing in its investment business to serve European clients
Investment and pension consulting specialist Pensjon & Finans was established in 1997 and has what Mercer calls a "solid" share in the institutional market both in the public and private sector.
The deal is subject to regulatory approval and other conditions and its terms were not disclosed.
The acquisition will give the existing clients of Pensjon & Finans access to Mercer's broad range of services and at the same time the clients will be served by the same consultants and will enjoy the same quality of services as in the past.
Espen Kløw, CEO of Pensjon & Finans, will take up the role as Head of Mercer Investment Consulting in Norway after the acquisition is finalised. Caspar Holter, the Founder of Pensjon & Finans, will continue at Mercer and serve his clients.
"Mercer is a leader in global investment consulting and Pensjon & Finans has an outstanding reputation and impressive relationships in the Norwegian market," said Nicolai Berg, Head of Mercer's Nordic Investments business.
"Many institutions are requiring more specialist advice as well as global capabilities and the combination of resources of Mercer and Pensjon & Finans will ensure that our Norwegian clients will benefit from the acquisition," said Berg.
"We believe our clients will realise that we can provide enhanced support and solutions because of the experience, resources and global reach that result from this combination. It will result in a substantial increase in manager research and due diligence capabilities, including implemented consulting expertise," said Kløw.
"Our client commitment and insights will be supplemented by the global reach, professionalism and resources of Mercer. Both Mercer and Pensjon & Finans have similar values and share a commitment to excellence and to the Norwegian market."