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Laxman Pai, Opalesque Asia: Consultant and asset manager Mercer has wrapped up fundraising for its seventh fund with nearly $4 billion in commitments.
The New York-based firm raised $3.9 billion for Mercer Private Investment Partners VII, which it plans to invest across private equity, private credit, infrastructure, real estate, and sustainability-driven investments.
The American consulting firm said in a media release that Fund VII has a mandate to make commitments to other investment vehicles, acquire positions on the secondary market, and invest directly in businesses alongside other private investment managers.
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, said the release from the Marsh McLennan unit.
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...................... To view our full article Click here
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