Bahrain’s Investcorp has entered into a definitive agreement to acquire Mercury Capital Advisors (Mercury), an institutional capital raising and investment advisory enterprise.
As part of the transaction, Mercury will remain an independent business operating under its current leadership team.
Terms of the transaction were not disclosed, and subject to receipt of relevant regulatory approvals the transaction is expected to close in the third quarter of 2019.
Founded in 2009 by Michael Ricciardi, Alan Pardee and Enrique Cuan, Mercury has closed over $170 billion in fund commitments since 2003, when the Mercury team was at Merrill Lynch, and maintains relationships with over 2,500 institutional investors across the globe.
The firm has extensive experience in providing advisory services on direct deals and co-investments, joint ventures and secondary transactions, as well as consulting services for general partners.
Today Mercury, its affiliates and distribution partners have over 50 employees in 14 offices across the Americas, Europe, the Middle East and Asia.
This investment is the latest in Investcorp’s ambitious growth strategy to reach $50 billion in assets under management over the medium term and follows Investcorp’s acquisition last year of a strategic minority stake in Banque Paris Bertrand, an independent, Swiss-regulated private bank based in Geneva and Luxembourg.