Aon is looking to boost its outsourced chief investment officer business with its recently announced deal to acquire global real estate and investment management firm the Townsend Group.

Aon says the US$475-million acquisition will allow it to expand its investment capabilities, which include outsourced chief investment officer and advisory services for large- and mid-sized organizations.

“Our clients’ investment strategies are focused on driving the strongest risk management and return outcomes, and alternative private market investments are playing an increasingly important role in those strategies,” said Cary Grace, chief executive officer of global retirement and investment solutions at Aon.

Read: Aon to sell benefits administration and HR outsourcing platform

“This acquisition will unite two investment industry leaders that provide objective advice and implemented OCIO solutions to institutional investors. Together, we will expand our capabilities and expertise to create sophisticated investment solutions that best serve our clients and further accelerate our growth.”

Townsend advises on US$175.7 billion in global assets and manages US$14.5 billion in assets.

Copyright © 2017 Transcontinental Media G.P. Originally published on benefitscanada.com

Add a comment

Have your say on this topic! Comments that are thought to be disrespectful or offensive may be removed by our Benefits Canada admins. Thanks!

* These fields are required.
Field required
Field required
Field required