For years Buck Consultants (Buck) were the actuaries for most of the plans in the New Jersey Retirement System (all except the Teachers’ plan which Milliman does) and they proved to be very accommodating to the whims of their client. Then early last year Xerox, which owned Buck, split off its HR business with Buck becoming Conduent. A reason might have been Buck’s history with public plans in:
Now it looks like Buck may be back….with some new baggage.
According to a Conduent press release:
Conduent Incorporated (NYSE: CNDT) today announced it has entered into a binding agreement to sell its U.S. based human resource consulting and actuarial business. The deal also includes human resource consulting and outsourcing businesses located in Canada and the U.K. This business, formerly known as Buck Consultants, is being sold to H.I.G. Capital, a global private equity investment firm.
From Buck’s wikipedia page:
In May 2018, Conduent announced that it would sell the Buck Consultants portion of its business to H.I.G. Capital, starting the clock on a 90-day transition period in which it hoped to complete the sale in Q3 2018. It is rumored that H.I.G. will bring back the Buck name and branding.
From H.I.G. Capital’s wikipedia page:
H.I.G. Capital is a Miami, Florida-based global private equity and alternative assets investment firm with $25 billion of equity capital under management. The firm operates a family of private equity, growth equity, credit/special situation, primary lending, syndicated credit, and real estate funds. The company specializes in providing both debt and equity capital to small and mid-sized companies.
Burypensions Blog 
Posted by Tough Love on May 27, 2018 at 6:36 pm
Off topic but wow …………….
I never though I would saw anything positive about Donald Trump, but he just sign 3 Executive orders addressing the bloated Federal Bureaucracy, unproductive workers and overbearing Union activities at taxpayer expense.
https://www.washingtonpost.com/politics/trump-takes-aim-at-federal-bureaucracy-with-new-executive-orders-altering-civil-service-protections/2018/05/25/3ed8bf84-6055-11e8-9ee3-49d6d4814c4c_story.html?noredirect=on&utm_term=.5f9a2e94f7a0
BRAVO …………. time to do the same thing at the State & Local levels !
Quoting from the article ………….
“President Trump moved Friday to roll back civil-service protections that federal employees have enjoyed for a generation, making it easier to fire poor performers, curtailing time employees can be paid for union work and directing agencies to negotiate tougher union contracts.”