Mercer Investment Consulting has announced that it is to join forces with the Chicago-based Hedge Fund Research (HFR) group, in a deal that will see the investment consultants gain access to data on more than 5,500 hedge funds worldwide.
HFR, which provides hedge fund data, research and indexation as well as asset management, will provide Mercer and its clients with information it has collated on single-strategy transparent hedge funds, helping Mercer to more quickly identify opportunities in the hedge fund market for investors.
Tim Gardner, global business leader at Mercer Investment Consulting, said of the deal: "Given the more onerous due diligence requirements of researching individual hedge funds… access to HFR's research is a good complement to the in-house efforts of our own 44 full-time manager researchers."
However, Joseph G Nicholas, chairman of HFR, said that it was not only Mercer and its clients that would benefit from the deal.
"Mercer Investment Consulting's leading presence in institutional investment consulting, both in the US and globally, makes this alignment attractive to us," he said.
"This will help us expand our approach to transparent hedge fund investing among pension plan sponsors, foundations, and endowments."