Hillhouse to buy Mercer's Asia private client services business

What's the deal? HillhouseDealroom has a profile for this one. Try Dealroom → , the Asia-focused investment firm, is set to acquire MercerDealroom has a profile for this one. Try Dealroom →'s private client services business in Asia. The deal would see Hillhouse take over Mercer's wealth advisory operations serving high-net-worth individuals across the region.

Why now? Asia's private wealth market has been growing rapidly, with more ultra-high-net-worth individuals in the region seeking sophisticated advisory services. For Hillhouse, the acquisition is a chance to expand beyond its core investment management roots into wealth services — a sector with steady, fee-based revenue.

For Mercer, a unit of Marsh McLennanDealroom has a profile for this one. Try Dealroom →, divesting the Asia private client arm could reflect a broader strategy to streamline operations and focus on its institutional consulting strengths.

The signal: Hillhouse's move into wealth advisory underscores how Asia-focused investment firms are diversifying revenue streams as competition in pure asset management intensifies. With Marsh McLennan — a mature global professional services firm — opting to shed a non-core regional unit, the deal illustrates a broader pattern of Western incumbents rationalising their Asian footprints while local players snap up the client relationships left behind.

Read more: fundselectorasia.com