Mercer Closes on $3.8 Billion

Mercer, a unit of Marsh & McLennan, closed Mercer Private Investment Partners VIII LP with about $3.8 billion in capital commitments. The fund is the eighth in Mercer’s PIP series and invests across private equity, private debt, infrastructure and real estate. It includes onshore and offshore vehicles to serve U.S. and non-U.S. investors. The strategy targets primaries, co-investments and secondaries to provide diversified exposure within a single structure.PIP VIII drew commitments from institutional investors including wealth managers, insurers, endowments and pension funds. The fund saw increased demand for secondaries and co-investments as investors seek broader private market exposure. Mercer has used the PIP series to aggregate capital across asset classes while simplifying access for clients. Niall O’Sullivan, global solutions chief investment officer, and Michael Lernihan, global commercial leader for investments, led the raise for Mercer.