Willis Towers Watson is acquiring Canadian investment manager Integra Capital Ltd.

Following the acquisition, Integra will function as a wholly-owned subsidiary of Willis Towers Watson and will have responsibility over the firm’s Canadian delegated investment business.

“We’re very excited to acquire Integra, especially given our successful partnership with them over the past three years,” said Kemp Ross, global head of delegated investment solutions at Willis Towers Watson, in a press release. “Integra has significant experience in the Canadian investment management industry and has excellent fund operational and administrative capabilities.

Read: 2016 Top 40 Money Managers Report: The ins and outs of OCIO

“As the Canadian investments market moves toward outsourced chief investment officer solutions, similar to the U.S. and the U.K. markets, we believe having a more competitive Canadian business — in a market that is expected to grow — will reinforce our aim to expand our Canadian offering from pension advisory into delegated services.”

The transaction will boost Willis Towers Watson’s business since it will now have its own securities registration and Integra will provide a more complete outsources chief investment officer offering.

“We’re really pleased about formalizing our three-year delegated investment solutions partnership with Willis Towers Watson, as it will enhance our position as a leading investment company in Canada,” said Graham Rennie, chief executive officer of Integra.

“Upon completion of the transaction, Integra Capital will retain its responsibilities as the investment fund manager and primary portfolio manager of the Integra group of funds. It will also provide our current and future clients with many benefits, including access to industry-leading global manager research and alternative investment capabilities.”

Read: Assets managed by U.S. OCIOs to exceed US$2.7 trillion by 2022: research

Copyright © 2018 Transcontinental Media G.P. Originally published on benefitscanada.com

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