Mercer has emerged as the buyer of Pillar Administration.
Super Review understands that the transaction has been confirmed in an internal communication to Mercer personnel this morning.
The transaction is likely to see a combining of the two companies' administration resources.
The transaction has proceeded ahead of the Australian Competition and Consumer Commission making a final decision on the eligibility of Link Market Services to bid for Pillar.
A condition of the NSW Government's sale of Pillar will see it remaining in Wollongong.
Australia’s second-largest super fund has confirmed it is expanding its presence in the UK following significant investment in the region.
A member of the super fund has approached ASIC to investigate potentially misleading or deceptive representations by UniSuper regarding the holdings of its sustainable portfolios.
The median growth fund delivered 1.9 per cent in March, adding to the “stunning” rally that has seen super funds gain 11 per cent since November.
Vanguard has affirmed its support for the current super performance test, emphasising the importance of keeping the process straightforward.
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