INTERACTIVE
The largest managers of outsourced assets
Worldwide institutional assets in outsourced investment programs, in millions, as of March 31, 2018.
| Rank | Manager | Assets | Change from prior year |
|---|---|---|---|
| 1 | Cambridge Associates* | $226,961 | 14.2% |
| 2 | Mercer | $211,971 | 34.5% |
| 3 | Russell Investments | $163,764 | 32.4% |
| 4 | Aon Hewitt Investment | $151,790 | 47.5% |
| 5 | Goldman Sachs Group | $135,207 | 37.2% |
| 6 | Northern Trust Asset Mgmt. | $122,487 | 3.6% |
| 7 | Willis Towers Watson Invest. | $115,429 | 42.0% |
| 8 | BlackRock | $105,264 | 5.0% |
| 9 | SEI Investments | $103,200 | 7.6% |
| 10 | State Street Global | $92,290 | 15.0% |
| 11 | Wells Fargo | $80,669 | 3.4% |
| 12 | Vanguard Group | $41,804 | 21.0% |
| 13 | Alan Biller | $40,631 | 10.7% |
| 14 | Strategic Investment Group | $38,282 | 13.6% |
| 15 | J.P. Morgan Asset Mgmt. | $36,075 | 57.9% |
| 16 | P-Solve/River & Mercantile Solutions | $32,600 | 55.2% |
| 17 | BofA Merrill Lynch | $32,029 | 0.4% |
| 18 | Morgan Stanley | $25,736 | 18.9% |
| 19 | PNC Financial** | $24,100 | 6.9% |
| 20 | BNY Mellon** | $18,048 | -7.2% |
| 21 | NEPC | $17,131 | 72.7% |
| 22 | Hirtle, Callaghan | $14,400 | 9.9% |
| 23 | CAPTRUST Financial | $13,772 | 39.8% |
| 24 | SECOR Asset Mgmt. | $13,527 | 15.4% |
| 25 | Pentegra Investors | $13,204 | 11.3% |
| 26 | Commonfund | $13,006 | 55.5% |
| 27 | UBS Asset Mgmt. | $12,951 | -2.0% |
| 28 | Fidelity Institutional | $12,268 | 57.6% |
| 29 | Partners Capital | $11,500 | 25.0% |
| 30 | Segal Marco Advisors | $11,105 | -56.9% |
| 31 | PFM Asset Mgmt. | $10,884 | 21.9% |
| 32 | Highland Associates | $10,811 | 5.8% |
| 33 | CornerStone Partners | $10,100 | 11.0% |
| 34 | Rocaton Investment Advisors | $10,037 | 3.1% |
| 35 | Aetos Alternatives | $9,392 | 2.5% |
| 36 | Wilshire Associates | $8,887 | 16.9% |
| 37 | Callan | $8,721 | -26.2% |
| 38 | Perella Weinberg | $8,690 | 3.9% |
| 39 | Marquette Associates | $7,500 | -1.3% |
| 40 | Meketa Investment Group | $7,360 | 122.6% |
| 41 | Sterling Capital | $6,680 | 10.3% |
| 42 | Pavilion | $5,323 | 81.5% |
| 43 | TIFF Advisory Services | $5,315 | -6.2% |
| 44 | Lockton Retirement | $4,376 | 37.2% |
| 45 | TIAA Endow. & Phil. Svcs. | $4,353 | 81.4% |
| 46 | Aptitude Investment | $4,155 | -23.3% |
| 47 | DiMeo Schneider | $4,000 | 66.7% |
| 48 | Summit Strategies Group | $3,806 | N/A |
| 49 | Capital Strategies | $3,482 | 45.2% |
| 50 | Verus | $3,405 | -84.0% |
| 51 | Angeles Investment Advisors | $3,081 | 13.8% |
| 52 | Gallagher Fiduciary | $3,043 | 31.4% |
| 53 | Canterbury Consulting | $3,001 | 160.3% |
| 54 | Cafaro Greenleaf | $2,600 | 23.8% |
| 55 | Spider Management | $2,114 | 8.1% |
| 56 | Cornerstone Advisors | $1,992 | N/A |
| 57 | Gerber/Taylor Mgmt. | $1,482 | 7.9% |
| 58 | Ellwood Associates | $1,152 | 31.8% |
| 59 | Prime Buchholz | $746 | -36.5% |
| 60 | Athena Capital Advisors | $587 | 1.6% |
| 61 | Discretionary Mgmt. Svcs. | $342 | 15.9% |
| 62 | Gifford Fong Associates | $281 | N/A |
| 63 | Arnerich Massena | $249 | 6.4% |
| 64 | Spruceview Capital | $241 | 34.6% |
| 65 | Sellwood Consulting | $215 | 72.0% |
| 66 | LCG Associates | $110 | -63.6% |
| 67 | Morrison Fiduciary | $62 | 14.8% |
| 68 | Bivium Capital | $25 | N/A |
| Total | $2,089,801 | 18.7% | |
| * 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 | |||
