Hillhouse to Acquire Mercer’s Private Client Services Business

Hillhouse Investment agreed to acquire Mercer’s Private Client Services, an Asia-led business offering wealth protection and life insurance.

The transaction between Hillhouse and Mercer, owned by New York-based professional services company Marsh, is pending regulatory approvals and other closing conditions, according to a statement from the Asia-based alternative asset manager, which confirmed an earlier Bloomberg News report. Financial terms weren’t disclosed.

People familiar with the matter said in February that Marsh, formerly Marsh & McLennan Cos., was working with an adviser on a possible divestment of PCS to streamline its global portfolio of assets, and that a transaction could ...