Marsh McLennan’s Mercer Announces Successful Fundraising for Private Investment Partners (PIP) VII, Closing With Nearly $4 Billion in Commitments

April 25, 2024 at 09:30 AM EDT

Mercer, a global leader in redefining the world of work, reshaping retirement and investment outcomes, and a business of Marsh McLennan (NYSE: MMC), announced today the successful fundraising for Mercer Private Investment Partners VII ("PIP VII") with the fund securing limited partner (LP) capital commitments totaling over USD $3.9 billion.ⁱ

This is the seventh vintage in Mercer’s PIP series, which is designed to offer investors flexible access to a wide spectrum of global private markets across private equity, private debt, infrastructure, real estate, natural capital and sustainable opportunities. PIP invests across primaries, co-investments, secondaries, and other specialized offerings.

Niall O’Sullivan, Mercer’s Global Solutions Chief Investment Officer, said: “Private investments – equity, credit and real assets – are core to our conversations with our largest and most sophisticated clients with our advice and solutions evolving to reflect market conditions. PIP VII offered our clients a compelling opportunity to invest in private markets aligned with our best thinking.”

Commitments from a diverse group of new institutional investors, including endowments, foundations and insurers constitute a significant amount of the capital raised for PIP VII. In the UK, for example, 80% of the capital raised for PIP VII was from new investors who had not previously committed to prior PIP vintages. The United States was the strongest region for net new LP growth overall – with more new LP capital committed to PIP VII than any other region globally.

Raelan Lambert, Mercer’s Global Alternatives Leader, said: "Mercer's ability to retain strong commitments from existing clients and attract new capital from expanding client segments is a testament to our focus on meeting clients where they are across the governance continuum. Despite the challenging fundraising market over the past two years, we’ve seen strong resilience over most client segments, and as we look forward, appetite for private markets continues to grow across our global client base.”

Ms. Lambert continued, "Our research finds that large asset owners, with an AUM of at least $5 billion, intend to build more exposure to infrastructure, private debt and private equity in 2024 and beyond. The rapid growth of private markets has expanded competition and complexity, making it harder to source and screen the investment universe and ultimately, discern the best managers. Mercer’s PIP solutions make us an ideal partner for institutional investors navigating these complexities by offering direct and diversified access to global and resource-intensive private markets opportunities.ⁱⁱ”

Mercer, with over 30 years of private markets experience, employs more than 260 Alternatives professionals across 32 offices globally.ⁱⁱⁱ

To find out more about Mercer’s private market solutions, click here.

About Mercer

Mercer believes in building brighter futures by redefining the world of work, reshaping retirement and investment outcomes, and unlocking real health and well-being. Mercer’s more than 20,000 colleagues are based in 43 countries and the firm operates in over 130 countries. Mercer is a business of Marsh McLennan (NYSE: MMC), the world’s leading professional services firm in the areas of risk, strategy and people, with more than 85,000 colleagues and annual revenue of $23 billion. Through its market-leading businesses including Marsh, Guy Carpenter and Oliver Wyman, Marsh McLennan helps clients navigate an increasingly dynamic and complex environment. For more information, visit mercer.com. Follow Mercer on LinkedIn and X.

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ⁱ PIP VII consists of a US vehicle for US investors and a Luxembourg vehicle for non-US investors. This press release does not constitute an offer to invest in any Mercer private markets investment vehicle. PIP VII closed in Q2 2024.

ⁱⁱ The opinions expressed are subject to change without notice and should not be relied upon as a forecast, recommendation, or investment advice. The material was prepared without regard to specific objectives, financial situation or needs of any investor.

ⁱⁱⁱ As of January 1, 2024.