Mercer to acquire stake in Alexander Forbes

Mercer has entered into a definitive agreement to acquire a 34% stake in Alexander Forbes Group.


South African-based Alexander Forbes provides a range of services to institutional and retail employers that align closely with Mercer’s global business.

The transaction is conditional on the upcoming listing of Alexander Forbes on the Johannesburg Stock Exchange and other customary closing conditions, including the receipt of requisite regulatory approvals.

Bank of America Merrill Lynch acted as financial advisor, and Webber Wentzel in South Africa and Slaughter and May in the UK acted as legal advisors on the transaction.

Julio A. Portalatin (pictured), president and chief executive officer at Mercer, said: “We are thrilled to have this opportunity to establish a relationship with Alexander Forbes, a leader in the retirement, investment, and employee benefits space in South Africa and broader Sub-Saharan Africa.

“This is the beginning of a strong partnership that will generate value for both of our firms and our respective [employer] clients.

“We are particularly excited to significantly broaden our exposure to the growth prospects present in South Africa and sub-Saharan Africa.

“Through this investment, we will be able to support our global [employer] clients seeking to enter and expand into the African market, and with our global reach and capabilities, we will be able to support Alexander Forbes’ [employer] clients seeking to grow outside of Africa.”