Hewitt to buy consulting company EnnisKnupp

Lincolnshire-based Hewitt Associates, a global human resources consulting and outsourcing company, Tuesday said it entered into an agreement to acquire EnnisKnupp, a provider of investment advisory services to large institutional investors.

This acquisition will boost Hewitt's existing investment consulting capabilities in the United States and support its global growth plans. EnnisKnupp provides investment consulting services to corporations, public funds, endowments, foundations and non-for-profits.

Once this transaction is complete, Hewitt will be one of the largest providers of investment consulting services globally with nearly $3 trillion in assets under advisement.

Financial terms were not disclosed. The transaction is subject to regulatory approval and is expected to close later this year.