The OCIO industry is projected to grow to $4.2 trillion by 2028, driven primarily by endowments and foundations, which are expected to see 11.3% annual growth in assets managed by OCIO providers. Nonprofits are increasingly outsourcing investment management due to the complexity of alternative investments and the high costs of in-house CIOs. Additionally, consolidation within the industry and decreasing advisory fees are making outsourcing more appealing, fostering a "safety in numbers" mentality among nonprofits.
Nokia has outsourced its U.S. defined benefit pension management to Mercer Investments, shedding its in-house team amid rising costs and low profitability in corporate pensions. This move aligns with a broader trend of companies offloading pension responsibilities to external firms, allowing them to focus on core operations while OCIOs like Mercer benefit from increased assets under management.
Hightower has acquired a controlling stake in NEPC, enhancing its capabilities in wealth management and OCIO services. This partnership combines $258 billion in assets under management and $1.8 trillion in advisory assets, allowing Hightower to better serve high-net-worth clients seeking private market investments. NEPC retains its autonomy while gaining access to Hightower's retail client base, reflecting a growing trend of convergence between wealth management and institutional consulting.
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