INTERACTIVE

The largest managers of outsourced assets with full or partial discretion

Worldwide institutional assets in outsourced investment programs, in millions, as of March 31, 2018.
RankManagerAssetsChange from
prior year
1Mercer$211,97134.5%
2Russell Investments$163,76432.4%
3Aon Hewitt Investment$151,79047.5%
4Willis Towers Watson $115,42942.0%
5BlackRock$105,26421.8%
6SEI Investments$103,2007.6%
7State Street Global$92,29015.0%
8Goldman Sachs Group$81,58633.4%
9Wells Fargo$80,6693.4%
10Northern Trust Asset Mgmt.$69,11810.6%
11Vanguard Group$41,80421.0%
12Alan Biller$40,63110.7%
13Strategic Investment Group$38,28213.6%
14J.P. Morgan Asset Mgmt.$34,80859.4%
15P-Solve/River & Mercantile Solutions$32,60055.2%
16BofA Merrill Lynch$32,0290.4%
17Cambridge Associates *$26,97556.1%
18Morgan Stanley$25,73618.9%
19NEPC$17,13172.7%
20BNY Mellon Asset Mgmt. **$16,575-6.7%
21Hirtle, Callaghan$14,4009.9%
22CAPTRUST Financial$13,77239.8%
23SECOR Asset Mgmt.$13,52715.4%
24Commonfund$13,00655.5%
25UBS Asset Mgmt.$12,951-2.0%
26Fidelity Institutional$12,26857.6%
27Partners Capital$11,50025.0%
28Pentegra Investors$11,09711.6%
29PFM Asset Mgmt.$10,88421.9%
30Highland Associates$10,8115.8%
31CornerStone Partners$10,10011.0%
32Rocaton Investment Advisors$10,0373.1%
33Aetos Alternatives$9,3922.5%
34Callan$8,721-26.2%
35Perella Weinberg$8,6903.9%
36Wilshire Associates$7,90717.9%
37Meketa Investment Group$7,360122.6%
38Sterling Capital$6,68010.3%
39TIFF Advisory Services$5,315-6.2%
40Marquette Associates$4,995-34.3%
41Pavilion$4,77688.5%
42Lockton Retirement$4,37637.2%
43TIAA Endow. & Phil. Svcs.$4,35381.4%
44Aptitude Investment$4,15515.3%
45DiMeo Schneider$4,00066.7%
46Summit Strategies Group$3,806N/A
47Capital Strategies$3,48245.2%
48Verus$3,405-84.0%
49Angeles Investment Advisors$3,08113.8%
50Gallagher Fiduciary$3,04331.4%
51Cafaro Greenleaf$2,60023.8%
52Segal Marco Advisors$2,498-61.2%
53Spider Management$2,1148.1%
54Cornerstone Advisors$1,992N/A
55Canterbury Consulting$1,631307.8%
56Gerber/Taylor Mgmt.$1,4827.9%
57Ellwood Associates$1,15231.8%
58Athena Capital Advisors$5871.6%
59Discretionary Mgmt. Svcs.$34215.9%
60Gifford Fong Associates$281N/A
61Arnerich Massena$2496.4%
62Spruceview Capital$24134.6%
63Sellwood Consulting$21572.0%
64Morrison Fiduciary$6214.8%
Total$1,738,98823.0%
* Assets under management as of Dec. 31, 2017
** Data as of March 31, 2017 were restated to align with asset recategorization as of March 31, 2018.
Source: Pensions & Investments survey