Mercer will acquire Oslo-based pension and investment consulting firm Pensjon & Finans, confirmed Nicolai Berg, partner and head of Mercer's Nordic investments business.
Terms were not disclosed.
Mr. Berg said the deal will be complementary to Mercer's existing investment consulting business in Norway. That business has focused on larger institutional clients, while Pensjon & Finans has focused on the smaller end of the market.
“It's a good match,” said Mr. Berg, who is based in Oslo.
Espen Klow, CEO of Pensjon & Finans, will become principal and head of investment consulting in Norway at Mercer after the acquisition is finalized. Also, Pensjon & Finans founder Caspar Holter will join Mercer as principal and Norwegian head of Mercer investments. Both positions are new.
Pensjon & Finans' assets under advisement total between 25 billion Norwegian kronor ($4.3 billion) and 50 billion kronor, Mr. Berg said; he could not provide a similar figure for Mercer's Norwegian business.
The deal is expected to close by the end of February, subject to approval by Finanstilsynet, Norway's financial supervisory authority.
