Pavilion Financial Corporation has agreed to purchase Jeffrey Slocum & Associates, the firms announced Tuesday.
Slocum, which advises on $125 billion in health care, endowment, foundation, insurance, and retirement assets, will become a part of Pavilion Advisory Group, Pavilion’s North America-based consulting arm.
“The combined team will have the resources and expertise to lead the industry across a wide range of areas such as healthcare, insurance, and retirement benefit consulting,” said Daniel Friedman, president and CEO of Pavilion. “The combined resources and research-driven knowledge will allow the advisory teams to enhance their offering to both Pavilion and Slocum clients and to expand the quality advice and solutions they are seeking.”
Pavilion said a “significant number” of Slocum’s senior management team, consultants, and researchers would become Pavilion shareholders and “maintain key leadership positions in the combined organization.”
Missing from the new firm will be founder Jeffrey Slocum, who is retiring after a “brief transition period.” Ex-CIO Jon Havice, who quit in March to spin out equity manager DGV Solutions, will remain in his current role as strategic advisor to a limited number of Slocum clients, said Deanna Allen, a spokesperson for Pavilion.
“We found Pavilion’s commitment to employee-ownership to be a very compelling feature of the transaction since it aligns consultant and client interests,” said Slocum. “Pavilion’s depth of expertise, its specialized and dedicated services, and its commitment to meeting or exceeding client expectations are a good fit for our clients and our team.”
Pavilion has been aggressive in making strategic acquisitions in the last several years, most recently bolstering its alternatives advisory through the purchase of Altius Holdings, the parent company of private markets consultant Altius Associates.