INTERACTIVE

The largest managers of outsourced assets

Worldwide institutional assets in outsourced investment programs, in millions, as of March 31, 2018.
RankManagerAssetsChange from
prior year
1Cambridge Associates*$226,96114.2%
2Mercer$211,97134.5%
3Russell Investments$163,76432.4%
4Aon Hewitt Investment$151,79047.5%
5Goldman Sachs Group$135,20737.2%
6Northern Trust Asset Mgmt.$122,4873.6%
7Willis Towers Watson Invest.$115,42942.0%
8BlackRock$105,2645.0%
9SEI Investments$103,2007.6%
10State Street Global$92,29015.0%
11Wells Fargo$80,6693.4%
12Vanguard Group$41,80421.0%
13Alan Biller$40,63110.7%
14Strategic Investment Group$38,28213.6%
15J.P. Morgan Asset Mgmt.$36,07557.9%
16P-Solve/River & Mercantile Solutions$32,60055.2%
17BofA Merrill Lynch$32,0290.4%
18Morgan Stanley$25,73618.9%
19PNC Financial**$24,1006.9%
20BNY Mellon**$18,048-7.2%
21NEPC$17,13172.7%
22Hirtle, Callaghan$14,4009.9%
23CAPTRUST Financial$13,77239.8%
24SECOR Asset Mgmt.$13,52715.4%
25Pentegra Investors$13,20411.3%
26Commonfund$13,00655.5%
27UBS Asset Mgmt.$12,951-2.0%
28Fidelity Institutional$12,26857.6%
29Partners Capital$11,50025.0%
30Segal Marco Advisors$11,105-56.9%
31PFM Asset Mgmt.$10,88421.9%
32Highland Associates$10,8115.8%
33CornerStone Partners$10,10011.0%
34Rocaton Investment Advisors$10,0373.1%
35Aetos Alternatives$9,3922.5%
36Wilshire Associates$8,88716.9%
37Callan$8,721-26.2%
38Perella Weinberg$8,6903.9%
39Marquette Associates$7,500-1.3%
40Meketa Investment Group$7,360122.6%
41Sterling Capital$6,68010.3%
42Pavilion$5,32381.5%
43TIFF Advisory Services$5,315-6.2%
44Lockton Retirement$4,37637.2%
45TIAA Endow. & Phil. Svcs.$4,35381.4%
46Aptitude Investment$4,155-23.3%
47DiMeo Schneider$4,00066.7%
48Summit Strategies Group$3,806N/A
49Capital Strategies$3,48245.2%
50Verus$3,405-84.0%
51Angeles Investment Advisors$3,08113.8%
52Gallagher Fiduciary$3,04331.4%
53Canterbury Consulting$3,001160.3%
54Cafaro Greenleaf$2,60023.8%
55Spider Management$2,1148.1%
56Cornerstone Advisors$1,992N/A
57Gerber/Taylor Mgmt.$1,4827.9%
58Ellwood Associates$1,15231.8%
59Prime Buchholz$746-36.5%
60Athena Capital Advisors$5871.6%
61Discretionary Mgmt. Svcs.$34215.9%
62Gifford Fong Associates$281N/A
63Arnerich Massena$2496.4%
64Spruceview Capital$24134.6%
65Sellwood Consulting$21572.0%
66LCG Associates$110-63.6%
67Morrison Fiduciary$6214.8%
68Bivium Capital$25N/A
Total$2,089,80118.7%
* Assets under management as of Dec. 31, 2017, and Dec. 31, 2016, respectively. Data for both years were recategorized compared to prior survey responses.
** Data as of March 31, 2017 were restated to align with asset recategorization as of March 31, 2018.
Source: Pensions & Investments survey