Mercer Advisors refinances $1.9B of debt and adds $340M revolver

Mercer Advisors manages investment portfolios and provides financial planning, tax, insurance and trust services for individuals and families. The privately held firm completed a $1.9 billion refinancing through a seven-year syndicated term loan and added a $340 million, five-year revolving credit facility, according to its October 8 announcement. The term loan replaces its existing private debt.

Moving the borrowing into the broadly syndicated loan market—the firm’s first such deal—puts the debt with a wider group of institutional lenders and extends its maturity. A Mercer spokesperson told WealthManagement.com that the new loan lowers the interest rate by 1.75 percentage points, which is expected to save $35 million to $40 million of interest next year. The spokesperson also said Mercer would save $15 million in upfront financing costs.

Families can use Mercer to manage a portfolio and coordinate financial, estate and tax planning, insurance and trustee services. Those offerings span affiliated advisory, tax, brokerage and insurance entities, while outside providers handle legal advice and some trustee work. Mercer describes the business as a fee-based family-office model.

Mercer reported $111 billion in client assets, at least 1,730 employees and more than 110 locations as of July 31. Its asset figure includes assets under management, assets under advisement and assets from recently acquired firms whose accounts have not yet been transferred or migrated to Mercer’s systems. It is a measure of the platform’s reach, not simply regulatory assets under management.

Acquisitions are part of how the firm expands. Mercer buys and integrates advisory practices, then gives their advisors and clients access to national technology, specialist teams and client-development resources; it also hires advisors directly. The company says it posted double-digit organic growth excluding market effects for two consecutive years and added a record number of acquisition partners over the past 18 months.

The enlarged revolver leaves Mercer with additional liquidity as it keeps integrating advisory firms and updating its technology. WealthManagement.com reported that the financing can support further acquisitions; it also noted Mercer’s July launch of Aspen 2.0, a proprietary operating system intended to let AI agents work alongside human advisors. Mercer did not disclose how much of the revolver was drawn at closing or reserved for acquisitions.