Aside from its 70-plus endowment and foundation clients, Fidelity serves as the OCIO for more than 100 pension funds, predominantly corporate plans.
Even with pension fund clients in OCIO — “which you could argue is in more of a consolidation phase when it comes to assets” — Pariseault said industry assets are growing at a clip above 5%.
At the moment, he noted Fidelity isn’t expanding the unit to support defined contribution plans or other asset owners like single-family offices. The business is also still focusing on opportunities in the U.S. before tapping international markets like the firm’s peers.
“Everything’s on the table” for the future, Pariseault said. But “we want to be smart about our growth. We want to make sure that we’ve got the right solutions for our clients. Once we’re able to do…
