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New York consulting firm to acquire India Life Capital

New York-based consulting firm Mercer LLC said it will acquire investment advisory firm India Life Capital without disclosing the financial details of the deal.

Anish Sarkar, CEO of Mercer India, said the acquisition will help the company expand its existing wealth business in India. The move also comes at a time of increasing demand for third-party investment advisory services for retirement funds in India.

India Life Capital's business spans across investment advisory, investment consulting and retirement consulting.

Through the acquisition, Mercer aims to bring its other offerings in the investment advisory area to Indian clients.

Mercer is unit of Marsh & McLennan Cos. Inc.