Mercer is bolstering its hedge fund and alternatives business—again.
Six months after restructuring its hedge fund unit—and naming Dave McMillan as its CIO—the consulting firm has promoted target-date fund and liquid alternatives specialist Jordan Nault to head up its research division.
In her new position of global leader of Mercer’s hedge fund boutique, Nault will be responsible for establishing and monitoring strategy and manager research, the firm said.
“Her track record at Mercer, which spans nearly a decade, reflects a history of consistent commitment to serving our clients and supporting our investment team with her expertise,” said Deb Clarke, Mercer’s global head of investment research.
Nault will report to Clarke and continue to be based in Chicago.
The new research chief—currently a senior investment consultant—served as the chair of Mercer’s target-date fund strategic research team since 2012, the firm said, and has been “instrumental in developing a process to support target-date fund research coverage.”
Nault is also a member of the firm’s alternatives strategic research team and defined contribution committee. She holds an MBA from the University of Chicago’s Booth School of Business.
Mercer also named Ben Thorndike as North America alternative investments head, responsible for marketing and sales for private equity, private debt, hedge funds, real estate, and infrastructure research.
Thorndike joins from alternatives investment firm FOC Partners and has more than 30 years of investment experience, Mercer said.
The consultant-turned-investor announced in February its assets under management had ballooned in 2014—reaching $115 billion—and that it saw great potential in the alternatives space.
Michael Dempsey, European head of Mercer’s “delegated solutions” business, said more and more large investors are seeking isolated mandates for infrastructure or unlisted assets.
In November 2014, the firm bought Switzerland-based Strategic Capital Management—taking on $4 billion of private equity, real estate, and infrastructure assets—and merging Mercer’s manager research capabilities with portfolio management functions.
Related: Mercer Revamps Hedge Fund Leadership; The Consulting Fund Manager: Mercer AUM Hits $115B; Mercer Buys Fund Manager to Access Private Markets