Hewitt Associates plans to merge with Aon Corporation

by Dami Sogunro

  • 22 Jul 2010
  • PE

Hewitt Associates, an Illinois–based investment consulting firm, recently announced merger plans with Aon Corporation and its horizontal acquisition of Ennis Knupp & Associates. It has acquired Ennis Knupp & Associates to help expand its investment consulting business in the US and move forward with its global growth plans. Financial terms of the acquisition are yet to be disclosed and the transaction is still subject to closing conditions and regulatory approval. The deal is expected to be finalized in Q4 2010.

Ennis Knupp and Associates’ only line of business is investment consulting and clients include public pension funds, endowments and foundations, many of which have allocations to alternatives. The firm advises on private equity, hedge funds, infrastructure and real estate investments.

Earlier in July, it was announced that Hewitt Associates and Aon Corporation had reached a $4.9 billion merger agreement, which would see Hewitt merge with Aon Consulting, the consulting and outsourcing operations arm of Aon Corporation. The merger is expected to be completed by mid-November 2010. This will be subject to closing conditions, regulatory approvals and approval by both Aon’s and Hewitt’s shareholders. The new entity will be known as Aon Hewitt and will focus on consulting on employee benefits with complementary product and service portfolios across consulting, benefits outsourcing and HR business process outsourcing.

Aon Consulting is a global provider of risk management services, insurance and reinsurance brokerage, and human capital consulting, offering a range of consulting services in health and benefits, retirement, compensation, strategic human capital, and human resources outsourcing. It also advises clients globally on investments in both traditional and alternative asset classes.

For more information on investment consultants and the institutional investors they advise, please see how our Investor Intelligence online service can assist you.

Continue browsing industry reports, publications, conferences, blogs and more on Preqin Insights