Aon Adds $4.56B in OCIO Assets With 3 New Clients

Aon plc announced Tuesday the addition of three new clients to its outsourced CIO service, including a defined benefit plan administered by Aon. The three new clients represent 3.5 billion pounds ($4.56 billion) in assets under management, bringing Aon’s global OCIO AUM to 144 billion pounds, as of September 30.

Aon now manages 29 billion in OCIO assets in Europe, the Middle East and Africa, including the newly added clients, according to the announcement.

One fund, a 1.25-billion-pound pension, sought to simplify its investment strategy, according to Aon. Another was a charitable foundation with 1 billion pounds invested in a ‘widely diversified’ portfolio.

The Aon Retirement Plan, a $2.5 billion legacy defined benefit plan administered by the company, is the third client. Trustees of the plan, which has 13,000 members, appointed Aon’s OCIO practice as its fiduciary manager to free up trustee time for other strategic projects, according to a news release.

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“More and more pension schemes and asset owners are seeing OCIO services as the most efficient way to run the investment of their assets, allowing them a clear focus on strategy while retaining agility in the way the assets are invested,” said William Parry, a partner in and head of delegated clients at Aon, in a statement.