Key Takeaways
- • Marsh (NYSE: MRSH) completed its previously announced acquisition of AltamarCAM, a specialist private markets asset manager serving insurers, family offices, pension funds, foundations, and banks across Europe and Latin America.
- • The deal lifts Marsh's private markets assets under management to US$75 billion; terms of the transaction were not disclosed.
- • AltamarCAM's 280 employees across Madrid, Munich, Barcelona, Cologne, London, New York, and Santiago de Chile join Marsh, and Madrid becomes the hub for Marsh's new international private markets investment platform.
- • AltamarCAM co-founder and Global CEO José Luis Molina will head the International Private Markets Platform, while founder and Executive Chairman Claudio Aguirre will chair it.
- • AltamarCAM will adopt the Marsh brand, and the combined business is positioned around secondaries, co-investments, bespoke accounts, and evergreen vehicles.
Summary
Marsh (NYSE: MRSH), a global professional services firm, announced the completion of its acquisition of AltamarCAM, a specialist private markets asset manager and solutions provider. According to the company's press release distributed via Business Wire, the terms of the transaction were not disclosed. Following the deal, Marsh's private markets assets under management rise to US$75 billion.
AltamarCAM is a global private markets business serving insurers, family offices, pension funds, foundations, banks and other institutional and wealth clients across Europe and Latin America. Its publisher describes the firm as a partner-led investment firm operating across private equity, venture capital, real assets and private credit through primary, secondary and co-investment strategies. Marsh said the acquisition adds AltamarCAM's multi-asset private markets expertise across secondaries, co-investments, bespoke accounts, and evergreen vehicles to its investments business.
Garvan McCarthy, Global Alternatives Chief Investment Officer of Marsh Investments and Retirement, cited the firm's latest Global Asset Barometer, which found most large asset owners are selectively increasing capital to private markets. He said success increasingly depends on disciplined execution and solutions that support more mature private market programs.
Under the integration, AltamarCAM will adopt the Marsh brand. José Luis Molina, Co-Founder and Global CEO of AltamarCAM, will serve as Head of the International Private Markets Platform within Marsh's investments business, while Claudio Aguirre, AltamarCAM Founder and Executive Chairman, will become Chairman of the platform. Molina said joining Marsh would allow colleagues to deliver greater impact to clients across a broader range of solutions and markets.
AltamarCAM's 280 employees in Madrid, Munich, Barcelona, Cologne, London, New York, and Santiago de Chile have joined Marsh, and Madrid will serve as a hub for the new international private markets investment platform.
AltamarCAM is a global private markets business serving insurers, family offices, pension funds, foundations, banks and other institutional and wealth clients across Europe and Latin America. Its publisher describes the firm as a partner-led investment firm operating across private equity, venture capital, real assets and private credit through primary, secondary and co-investment strategies. Marsh said the acquisition adds AltamarCAM's multi-asset private markets expertise across secondaries, co-investments, bespoke accounts, and evergreen vehicles to its investments business.
Garvan McCarthy, Global Alternatives Chief Investment Officer of Marsh Investments and Retirement, cited the firm's latest Global Asset Barometer, which found most large asset owners are selectively increasing capital to private markets. He said success increasingly depends on disciplined execution and solutions that support more mature private market programs.
Under the integration, AltamarCAM will adopt the Marsh brand. José Luis Molina, Co-Founder and Global CEO of AltamarCAM, will serve as Head of the International Private Markets Platform within Marsh's investments business, while Claudio Aguirre, AltamarCAM Founder and Executive Chairman, will become Chairman of the platform. Molina said joining Marsh would allow colleagues to deliver greater impact to clients across a broader range of solutions and markets.
AltamarCAM's 280 employees in Madrid, Munich, Barcelona, Cologne, London, New York, and Santiago de Chile have joined Marsh, and Madrid will serve as a hub for the new international private markets investment platform.
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