Mercer Advisors, a wealth administration and monetary planning enterprise with $60 billion in consumer belongings, is increasing its non-public markets attain with the launch of the Aspen Companions platform.
Aspen Companions is a proprietary non-public markets platform constructed by Mercer Advisors with the purpose of delivering institutional-grade entry on institutional-grade phrases to certified particular person traders. The platform will function investments curated by Mercer and is open to certified purchasers with funding minimums of $100,000.
“We’re dedicated to delivering on the promise of a full-fledged household workplace. Meaning working straight with a few of the world’s high non-public fairness, enterprise capital, non-public credit score, actual property and infrastructure managers to construct institutional-grade portfolios for our shoppers — with out including exorbitant charges or expense ratios,” Mercer Advisors President Daniel Gourvitch stated in an announcement. “For years, the world’s main institutional traders have benefited from incorporating well-diversified non-public investments into their portfolios. Too typically, people provided ‘distinctive entry’ to personal investments find yourself paying excessive charges, make investments too narrowly, and miss out on lots of the higher alternatives in non-public markets.”
“Aspen Companions is constructed to carry a fiduciary-centered method to personal markets by offering traders entry to selectively chosen non-public managers,” Mercer Chief Funding Officer Donald Calcagni stated in an announcement. “Simply as we’ve used our institutional shopping for energy in public markets to attenuate expense ratios for shoppers, we’ve now centered our purchasing energy on non-public markets to make it simpler for our certified shoppers to take a position alongside main non-public traders.”
Mercer plans to launch a number of non-public funds diversified throughout a number of managers and vintages. The funds are designed to maximise the share of fund charges allotted to compensating top-performing managers whereas minimizing charges paid to intermediaries, reminiscent of fund directors, platform sponsors, funds of funds managers or placement brokers.
“Our differentiated pricing mannequin stands in stark distinction to the trade’s prevailing pricing mannequin, the place excessive charges can considerably erode investor returns,” Calcagni stated. “That apply is unnecessary and doesn’t serve traders. We’re excited to have created a brand new paradigm the place prices go in direction of bolstering anticipated internet consumer returns, but additionally decline as a share of belongings because the platform grows.”
Mercer Advisors constructed Aspen Companions in partnership with non-public market fintech Opto Investments.
Mercer Advisors and Opto Investments are each independently backed by GIC, a world institutional investor.
Mercer Advisors has additionally expanded its non-public funding management group. Bob Burlinson will tackle an expanded position as senior director, non-public markets. Burlinson will lead the non-public markets group and its supervisor sourcing, due diligence and monitoring efforts.
Additionally becoming a member of the funding group is Will Rockett, senior director, funding technique group. Rockett, whose 25 years of asset administration expertise consists of roles with Morgan Stanley, Charles Schwab, Nuveen, US Belief, and Barclays Capital, now leads Mercer’s group of funding strategists tasked with serving to advisors construct, implement and monitor non-public markets allocations for shoppers. Burlinson and Rockett will be part of the funding management group, beneath Calcagni.
Chris Casdia additionally joins Mercer as vp, non-public markets compliance and operations. He brings over 15 years of economic providers expertise from Homrich Berg, Gratus Capital, and AXA Equitable.
