Key Takeaways
- • Marsh has completed its acquisition of AltamarCAM, the Madrid-based private markets asset manager, lifting Marsh's private markets assets under management to around $75bn (£56bn).
- • The roughly 280 AltamarCAM staff have joined Marsh, and the business will be rebranded as Marsh within a new international private markets platform.
- • José Luis Molina, AltamarCAM's co-founder and global chief executive, will head the platform within Marsh's investments business, while Claudio Aguirre will serve as chairman.
- • AltamarCAM serves institutional clients including insurers, family offices, pension funds, foundations and banks across Europe and Latin America, with strategies spanning private equity, venture capital, real assets and private credit.
- • Terms of the deal were not disclosed; the transaction was first announced in March and was struck through Mercer, which is being folded into the Marsh brand.
Summary
Marsh, the insurance broking and professional services firm, has completed its acquisition of AltamarCAM, a Madrid-based private markets asset manager serving institutional investors across Europe and Latin America. According to the firm, the transaction lifts Marsh's private markets assets under management to around $75bn (£56bn) and adds AltamarCAM's capabilities across secondaries, co-investments, bespoke accounts and evergreen vehicles.
AltamarCAM's client base includes insurers, family offices, pension funds, foundations and banks, alongside other institutional and wealth investors. The firm runs strategies across private equity, venture capital, real assets and private credit. Its roughly 280 staff have joined Marsh, and the business will be rebranded as Marsh. Madrid will become a hub for the new international private markets platform.
José Luis Molina, AltamarCAM's co-founder and global chief executive, will become head of the platform within Marsh's investments business. Founder and executive chairman Claudio Aguirre will serve as its chairman. Garvan McCarthy, global alternatives chief investment officer at Marsh's investments and retirement business, said the combination would allow the group to help clients invest in private markets with access to a broad range of opportunities across asset classes. Molina said joining Marsh would give colleagues the opportunity to deliver greater impact across a broader range of solutions and markets.
The deal, first announced in March, was struck through Mercer, the group's investment and consulting arm, which is being folded into the Marsh brand. Terms of the transaction were not disclosed.
AltamarCAM's client base includes insurers, family offices, pension funds, foundations and banks, alongside other institutional and wealth investors. The firm runs strategies across private equity, venture capital, real assets and private credit. Its roughly 280 staff have joined Marsh, and the business will be rebranded as Marsh. Madrid will become a hub for the new international private markets platform.
José Luis Molina, AltamarCAM's co-founder and global chief executive, will become head of the platform within Marsh's investments business. Founder and executive chairman Claudio Aguirre will serve as its chairman. Garvan McCarthy, global alternatives chief investment officer at Marsh's investments and retirement business, said the combination would allow the group to help clients invest in private markets with access to a broad range of opportunities across asset classes. Molina said joining Marsh would give colleagues the opportunity to deliver greater impact across a broader range of solutions and markets.
The deal, first announced in March, was struck through Mercer, the group's investment and consulting arm, which is being folded into the Marsh brand. Terms of the transaction were not disclosed.
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