Hillhouse Investment Management, global private alternative asset managers, today announced that it has reached an agreement to acquire Mercer’s Private Client Services (PCS), an Asia-led unit, founded in 2003, offering wealth protection and integrated life insurance solutions to private wealth management clients.

Mercer is a business of Marsh, a global professional services firm. The transaction is subject to regulatory and specified approvals, as well as customary closing conditions.

Joseph Low, group CEO of Mercer PCS, said: “We are excited to partner with Hillhouse Investment. For our clients, joining the Hillhouse ecosystem means access to a seamlessly integrated world of education, healthcare and wealth protection under one roof.

“For our bank partners, Hillhouse’s network of portfolio companies across Asia Pacific opens an entirely new frontier of client opportunities. PCS has spent over two decades building the trust to serve clients at this level, and Hillhouse will give us the platform to serve them on a scale we have never had before.”

Adam Hornung, co-chief operating officer at Hillhouse Investment, said: “Mercer’s Private Client Services team has an incredible reputation in the industry, and the advisory work they do with clients, with the best wealth management and protection solutions is incredibly important in this day and age.”

Founded in 2005 in Singapore with initial funding from the Yale University Foundation, Hillhouse Investment Management (“Hillhouse”) invests on behalf of leading institutional clients around the world, including university endowments, foundations, and sovereign wealth funds across the Americas, Europe, Asia and the Middle East. It offers a diverse range of investment strategies, including buyout, real assets (Rava Partners), and private credit (Elham Credit).