McKinsey mulls sale of in-house asset manager MIO Partners

03 February 2025 Consulting.us

McKinsey & Company is mulling the potential sale of MIO Partners, the in-house asset manager that invests the private wealth of its partners and alumni.

McKinsey has hired investment bank Ardea Partners to perform a strategic review of MIO, according to a Thursday report from the Financial Times.

The strategic review will consider the relationship between MIO and McKinsey, as well as evaluate several strategic directions and alternative ownership structures.

The US Securities and Exchange Commission in 2021 fined McKinsey $18 million over allegations MIO had inadequate controls to prevent the use of insider information from McKinsey’s consulting work.

Though the SEC complaint did not claim MIO misused the confidential information of McKinsey clients – such as financial results, deals, and funding plans – the watchdog found the internal policies and procedures were not strong enough to prevent potential misuse.

MIO subsequently updated its governance rules to separate it from McKinsey’s consulting business and prevent conflicts of interest. Today, MIO does not invest in individual stocks or bonds of any public or private company.

Instead, the investment fund trades assets such as sovereign debt, commodities, foreign exchange, equity indices, as well as heavily invests in externally managed funds.

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