Global consultancy Mercer, a subsidiary of New York-based Marsh & McLennan, has entered into a definitive agreement to acquire Swiss-based SCM Strategic Capital Management AG, subject to regulatory approval.

Global consultancy Mercer, a subsidiary of New York-based Marsh & McLennan, has entered into a definitive agreement to acquire Swiss-based SCM Strategic Capital Management AG, subject to regulatory approval. The deal is expected to close in the first quarter.

It is expected the entire SCM investment team will join Mercer, with Dr Hepp becoming global business leader of private markets, and Ralph Aerni, CIO of SCM, becoming global Co-CIO of private markets alongside Mike Forestner, who is currently director of private markets at Mercer.

It is also intended that both Dr Hepp and Aerni will join the alternatives investment committee of Mercer. Terms of the transaction were not disclosed.

“Increasingly our investment clients are seeking advice regarding alternatives investment strategy, either through a custom portfolio or a delegated solution, and SCM is an excellent addition to Mercer’s already well-regarded alternatives capabilities. In fast-moving and increasingly complex markets, a growing number of clients are turning to Mercer for advice in this area,” said Phil de Cristo, president of Mercer Investments.

At 30 September 2014, Mercer had $108 billion in assets under management, including $13 billion in alternative assets under management.