Fenchurch Advisory is advising Cardano on its sale to Mercer

June 11, 2024

On 11th June, Mercer, a business of Marsh McLennan, announced the acquisition of Cardano.

Founded in 2000, Cardano is one of the leading independent long-term savings specialists in the UK and the Netherlands, with $66bn in assets under management (as at 31st Dec 2023). Cardano offers a range of fiduciary management, investment advisory services, and liability-driven investing and derivatives solutions to both defined benefit and defined contribution pension schemes.

Cardano adopts a differentiated model, offering a combination of direct investment capabilities and external manager selection, as well as deep pension expertise, a solutions mindset, and a long heritage in sustainability. Through NOW: Pensions, Cardano operates the third largest UK master trust platform, serving more than two million savers across 27,000 employers, with leadership in the structurally growing auto-enrolment market.

As part of the agreement, approximately 550 Cardano colleagues in London, Nottingham and Rotterdam will join Mercer, upon completion of the transaction.

Fenchurch is acting as exclusive financial adviser to Cardano in relation to the transaction.

The transaction is subject to customary regulatory approvals and is expected to close near the end of 2024.

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