Mercer Investment Consulting will acquire Milliman’s wholly-owned investment consulting subsidiary, Evaluation Associates. The financial details of the transaction have not been disclosed. The deal is expected to be completed by the second quarter of 2011.
Evaluation Associates’ public sector investment consulting business, which accounts for about 10 out of 115 clients served by the firm, has been purchased by Callan Associates, adds Pensions & Investments. Evaluation Associates has $200 billion in assets under advisement.