Executive Summary
Review the market position of leading investment consultancies in the United States employed by influential institutional investors. The report focuses on manager selection pipeline, global institutional consultant intermediation, key issues in manager research & selection, composition of consultant clientele by channel, and more.
Methodology This research is based on in-depth interviews with 63 senior professionals at 15 investment consultants and 573 of the largest institutional investors in the U.S. Consultants shared their insights on the latest trends in manager research and selection while senior fund professionals provided quantitative and qualitative evaluations of their investment consultants and managers. Interviews were conducted from March to July 2026 with consultants and February to September 2025 with institutions.