Critical thinking

As private markets have evolved, investors have shifted their approach away from a one-size-fits-all portfolio structure focused on closed end funds towards more bespoke constructions.  Alongside this, liquidity concerns amongst both LPs and GPs have prompted a strategic reassessment of the role co-investments and secondary transactions play in modern portfolios, shifting them from the periphery o...

In recent years, the role of private debt has transformed, with the potential for higher returns and greater portfolio diversification seeing the asset class become a more frequent feature in institutional portfolios. Now, the way that investors are accessing private debt has changed too. Semi-liquid fund structures have emerged, with asset managers seeking to address the traditional barriers to e...

In this milestone 100th episode of Critical Thinking , U.S. Treasury Secretary Dr. Janet Yellen joins Mercer’s Niall O’Sullivan for a wide-ranging conversation on the forces reshaping the global economy. From inflation and interest rates to geopolitical fragmentation and the green transition, Dr. Yellen offers her perspective on the challenges facing policymakers and markets alike, as well as the...

In this podcast episode, Mercer’s U.S. CIO Olaolu Aganga sits down with fellow Mercer CIOs Christine Tessier, Garvan McCarthy, and Kylie Willment. Together, they tackle a big question swirling in markets today: Is the U.S. still the top spot for investors, and do better opportunities lie elsewhere? They explore how market uncertainty is creating both risk and opportunities around the world and why...

What does investment governance look like when success is defined by more than just returns? In this episode, Andy Farrington, Mercer's Multinational Investments Leader, is joined by Lee House of ABB’s Group Pension Management Team and Deborah Frost, Chair Elect of Mercer UK Master Trust, to discuss how large asset owners may navigate complex decisions across global pension plans.  Together,...

In this episode, Jo Holden is joined by Alan Synott and Robert Ronneberger to explore the evolving real assets landscape. They discuss where we are in the real assets cycle, the case for global diversification, opportunities and challenges in Southeast Asia, and practical strategies for asset owners navigating today’s dynamic market environment.   This podcast contains statements on historical per...

In this episode of Critical Thinking, Anubhuti Gupta and Adeline Tan tackle one of the most pressing challenges facing endowments and foundations: delivering sustainable returns amid rising market concentration, volatility, and lower future expectations.  They discuss how diversification beyond traditional equities, smarter liquidity management, and strong governance frameworks are essential to bu...

In this episode of Critical Thinking, Andreas Vermeiren, Principal in Mercer's Insurance Solutions team, is joined by William Gibbons, Principal in the Insurance Solutions team, and Eryn Bacewich, Head of US Insurance Solutions, to discuss their thoughts on risk management in insurance portfolios during a period of increased market volatility and the opportunities this presents to agile inves...

In this episode, Alan Synnott, Mercer’s Global Head of Real Assets, is joined by Anne Koeman-Sharapova and Simon James to explore how institutional investors are repositioning their real estate allocations in light of market resets and evolving sector dynamics. They discuss why real estate remains a core private markets asset, where valuation corrections have opened potential opportunities, trends...

In this episode, Robert Ronneberger, Head of Business Development for Asia, is joined by Dave McMillan, Chief Investment Officer, Hedge Funds, to explore how investors can future-proof their portfolios — specifically within hedge funds. Robert and Dave examine the most common mistakes seen in hedge fund investing, the impact of recent market volatility and other significant changes, such as the no...

As trade tensions, uncertainty over the direction of interest rates, and pension reforms reshape the investment landscape, liability-driven investing (LDI) may provide a source of stability. In this episode, Jeffrey Dissmann, who leads Mercer’s Investments business in Germany, is joined by Sheena Frost, Lead of the Europe ex-UK Portfolio Management Solutions Team at Mercer and Rik Klerkx, Chief In...

In this episode, Niall O’Sullivan, Global Solutions Chief Investment Officer, is joined by Olaolu Aganga, US Chief Investment Officer, Rupert Watson, Global Head of Economics & DAA, and Mike Forestner, Global Chief Investment Officer, Private Markets, to examine the causes of recent market volatility and the implications across public and private markets. The conversation leverages Mercer’s in...

In this episode of Critical Thinking , Amit Popat, Global Head of Financial Institutions at Mercer, is joined by Han Dieperink, Chief Investment Officer of Auréus, and Richard De Groot, Head of Global Investment Center at ABN AMRO Bank.  Recorded live at Mercer’s Global Investment Forum, together they explore how the wealth management industry is adapting to shifting client expectations, regulator...

In this episode of Critical Thinking, Manish Solanki, Head of Mercer Sentinel Group Europe, is joined by Tony Martinez, Head of Mercer Sentinel Americas, and Ashleigh McDowell, Principal at Mercer Sentinel Group, to explore why Operational Due Diligence is becoming an essential component of investment decision-making. With increasing market volatility, regulatory pressures, and rapid technological...

In this episode, William Gibbons, Senior Insurance Investment Consultant at Mercer, is joined by Tom Davies, Head of UK Placement, Marsh, and Olaolu Aganga, US Chief Investment Officer, Mercer, to explore how non-life insurers can potentially capture opportunities while maintaining resilience in an economic and market environment that's in a state of flux. The conversation covers how diversif...

Marieke de Roo, Mercer's Leader in Europe for Single Family Offices and Endowments & Foundations, is joined by Texas Hemmaplardh and Cori Trautvetter, both Partners and Co-Leads of Mercer's US Endowment and Foundation Investment Practice, to explore how endowments and foundations can potentially achieve portfolio resilience in an economic and market environment that's in a state...

In this episode (date of recording: February 28, 2025), Lisa Kots, Head of US Wealth Management Portfolio Management at Mercer, is joined by Rupert Watson, Global Head of Economics and Dynamic Asset Allocation, and Julius Bendikas, European Head of Economics and Dynamic Asset Allocation. Together, they explore the global economic outlook for Q1 2025, analyzing key market trends, potential risks, a...

In this episode of Critical Thinking, Jo Holden, Global Head of Investment Research and Advisory at Mercer, is joined by Leslie Maasdorp, CEO at British International Investment (BII) and Matt Robinson, Head of Private Capital Mobilisation at BII, to explore the world of development finance institutions (DFIs), capital mobilisation, and how DFIs can open up new investment opportunities for institu...

In this episode of Critical thinking, Michel Meert, European Consulting Leader for Endowments, Foundations and Family Offices, is joined by Marieke de Roo, European Sales Leader for Endowments, Foundations & Single-Family Offices, and Teena Jilka, Senior Investment Adviser to explore what's top of mind for single-family offices over the next year and beyond. As inflation moves back toward...

In this episode of Critical Thinking, Sinead Leahy, Co-Head of Cardano Advisory is joined by Nick Gibson, Managing Director, Cardano Advisory, and Dan Jackson, M&A Senior Principal at Mercer, to explore the key findings from our recent report, ‘Unlocking value and opportunities from UK pension funds – a private equity perspective’. There has been a significant shift in the Defined Benefit (DB)...

In this episode of Critical thinking, Cara Williams, Senior Partner and Global ESG and Sustainability Leader at Mercer, is joined by Lovey Sidhu, Sustainable Investment Specialist in Mercer's Global Strategic Research Team, and Daniel Klier, CEO of South Pole, to explore the dynamic challenges and potential opportunities in the evolving carbon market. The discussion addresses the elements nee...

Navigating the challenges of modern pension provision requires employers to effectively communicate and implement changes in pension plans while keeping employees' best interests at heart. In this episode hosted by Mercer's Tej Patel, Fiona Brown shares her own views on the evolving landscape of employer retirement offerings, based on her decades-long experience in the sector, most recen...

In this episode of Critical thinking, Amit Popat, Global Head of Financial Institutions at Mercer, is joined by David Morrow, European Insurance Proposition Leader, and Stephanie Thomes, a Senior Investment Strategist in Mercer’s Insurance team, to explore Mercer’s outlook for insurers in 2025. This year’s paper reflects a transitional phase for the economy, defined by shifts in structural factors...

In this episode of Critical Thinking , Jo Holden, Global Head of Investment Research at Mercer, is joined by Nick White, Global Strategic Research Director, and Matthew Scott, Strategic Research Principal, to explore Mercer's "Themes and Opportunities 2025" paper, specifically focusing on this year's theme, "Swing State." This concept reflects an economy in transition...

For the past 16 years, Mercer has been benchmarking retirement systems across the globe. The Mercer CFA Institute Global Pension Index 2024 uses more than 50 indicators to assess adequacy, sustainability and integrity across the world's pensions systems, highlighting their relative advantages and suggested areas for reform. In our latest episode, David Know, Senior Partner at Mercer, is joine...