Mercer has closed funding for its latest private markets fund, raising $2.7 billion from global investors including corporate and public sector pension funds, asset managers and insurance groups.
The Private Investment Partners (PIP) V fund – which consists of a US vehicle for US investors and a Luxembourg vehicle for non-US investors – is designed to offer investors access to a wide spectrum of asset classes across private markets including private equity, private debt, infrastructure, real estate, other real assets and sustainable opportunities.
It follows $2.6 billion raised by predecessor fund, PIP IV, which closed fundraising in 2017.
The PIP series covers multiple strategies in a “one-stop” format allowing flexibility for investors to tailor their strategies via secondary and co-investment transactions, the consultancy said.
Mercer’s global chief investment officer for alternatives, Bill Muysken, said: “The success of Mercer’s private market solutions is built on our deep relationships with top-tier managers, as well as our comprehensive due diligence process.”
“The solutions are designed to provide our clients with flexible access to compelling private market investment opportunities in a cost-effective manner,” he added.