Mercer to acquire Vanguard's outsourced CIO business
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| December 05, 2023![Share](/themes/custom/ocio/images/social-share.png)
Mercer has reached an agreement to acquire the outsourced chief investment officer business of Vanguard.
The OCIO business, called Vanguard Institutional Advisory Services, provides investment management services for not-for-profit organizations and other institutional investors in the U.S., said a Dec. 5 news release. Vanguard's OCIO unit has $60 billion in assets under advisement.
The terms of the acquisition were not disclosed, confirmed a spokesperson for Mercer.