U.S. Outsourced Chief Investment Officer Function 2025
Growth Drivers Shaping the Future of the Industry
Fees, Market Sizing, and Report Standardization
- Identify factors that are most important to different client types in an OCIO relationship
- Examine OCIO providers, industry consolidation, search consultant influence, and distribution strategies used by asset managers building relationships with OCIO providers
- Explore strategies used to retain OCIO assets when replacement searches or re-tenders are on the horizon
Buy Now
Summary
Explore the evolving outsourced chief investment officer (OCIO) market, including market sizing, demand and anticipated growth across client segments, types of outsourcing arrangements, functions outsourced, obstacles to uniformity across providers (i.e., performance track record and fees), and reasons why institutions are outsourcing.
A Note from the Author
The OCIO Industry Is Maturing. What Does This Mean for OCIO Providers?
Christopher Swansey
Associate Director
Bio →
Christopher Swansey
Associate Director
Christopher is an Associate Director on the Institutional team where he leads the annual Outsourced Chief Investment Officer (OCIO) report and supports various strategic consulting projects throughout the year. He has previously led the annual Institutional Markets and Insurance General Accounts reports. He also leads the Institutional Investor Research Collaborative (IIRC), a research effort focused on connecting with and learning from institutional investors.
Christopher was a Senior Analyst at Mercer working within their executive compensation consulting practice before joining Cerulli in 2018.
Full biography here.
Asset concentration, consolidation, and standardization are the latest signs that the OCIO industry is moving along the business lifecycle. These shifts raise important questions about how providers will adapt and compete in the future. According to our research:
- The U.S. OCIO industry has rapidly expanded, more than tripling in size (by assets) in less than a decade. Growth is expected to continue, with assets projected to reach more than $5.6 trillion by year-end 2029.
- Nearly $1.3 trillion in new client assets are expected to flow into the OCIO industry over the next five years. Nearly half of the new assets are expected to come from corporate defined benefit or contribution plans (43.4%).
- As OCIO providers focus on their business development strategies, it will be essential to understand the remaining addressable opportunity in each channel and the volume of organic growth coming into the OCIO industry from each channel.
- Looking ahead, competitive dynamics are anticipated to change. Larger OCIO providers will likely increase fee pressure on smaller competitors. If organic growth opportunities eventually decline, large OCIO firms are expected to seek inorganic growth through acquisitions.
For more on the growth opportunities and the challenges ahead, access our report, U.S. Outsourced Chief Investment Officer Function 2025.
Contact us
Want more information?
Learn more about this report and related Cerulli research.
Contact Us
Included with Purchase
Methodology
Each report is lead authored by a senior Cerulli analyst with significant industry experience. The report incorporates qualitative and quantitative inputs, based on Cerulli’s proprietary research process. For more on our research process, click here.
Executive Summary
Get the most important report findings distilled in an easy-to-understand and highly visual format before you begin your journey through the report or use it as a tool for senior leadership.
Interactive Report Dashboard
Access consolidated data from multiple report exhibits in a single comparative view. Flexibly build your view of data with customizable filters and share the results in a format that meets your requirements.
Analyst Support
Got a question? Our analysts are available to help you interpret and analyze key findings as well as provide their perspective on industry trends.
Data Behind the Report
Data is the foundation of our reports. Each study contains nearly 100 exhibits, available to buyers in Excel format. Extract and explore Cerulli’s data and analysis your way.
Digital Access
Access your reports digitally anytime, anywhere, on any device through our client portal.
You May also be interested in:
- Annual report
- The Cerulli Edge
CUSTOM RESEARCH & STRATEGIC CONSULTING
Cerulli for Consulting
Understand where to allocate resources to achieve your objectives. We can help you determine which initiatives are likely to be successful and those that may not achieve the desired effect. In an increasingly competitive market, our objectivity and experience can help you to advance your firm’s unique strengths.