Key Takeaways
- • Marsh has completed its acquisition of AltamarCAM, a global private markets investment manager, lifting its private markets assets under management to approximately $75 billion, according to Pulse 2.0.
- • The acquisition was announced on November 4, 2026, and adds private equity, private credit, real assets and alternative strategies to Marsh's investment business.
- • Approximately 280 AltamarCAM employees will join Marsh, with the team operating across Madrid, Munich, Barcelona, Cologne, London, New York and Santiago, Chile.
- • José Luis Molina, AltamarCAM's Co-Founder and Global CEO, will head Marsh's new International Private Markets Platform, with Founder and Executive Chairman Claudio Aguirre as Chairman.
- • Madrid will serve as a hub for the new platform, strengthening Marsh's footprint in Europe and Latin America.
Summary
Marsh has completed its acquisition of AltamarCAM, a global private markets investment manager and solutions provider, expanding its private markets assets under management to approximately $75 billion, according to Pulse 2.0. The transaction, announced on November 4, 2026, combines AltamarCAM's investment expertise with Marsh's global financial services and advisory infrastructure. The deal strengthens Marsh's capabilities across private equity, private credit, real assets and alternative investment strategies.
AltamarCAM serves institutional investors and private wealth clients, including pension funds, insurers, family offices, banks, foundations and other asset owners. Its offerings include primary fund investments, secondary transactions, co-investments, separately managed accounts and evergreen vehicles. Marsh intends to pair these capabilities in manager selection, portfolio construction, liquidity management and investment operations with its broader client relationships and global distribution.
The acquired business will adopt the Marsh brand. José Luis Molina, Co-Founder and Global CEO of AltamarCAM, will become Head of the International Private Markets Platform within Marsh's investment business, while Claudio Aguirre, AltamarCAM Founder and Executive Chairman, will serve as Chairman of the platform. The appointments are intended to maintain leadership continuity during integration. Approximately 280 AltamarCAM employees will join Marsh, working across Madrid, Munich, Barcelona, Cologne, London, New York and Santiago, Chile. Madrid will become a hub for the new international platform.
Marsh, which operates in 130 countries, employs more than 95,000 professionals and generates approximately $27 billion in annual revenue, said the acquisition supports its strategy of expanding its investment solutions business. Garvan McCarthy, Global Alternatives Chief Investment Officer of Marsh Investments and Retirement, cited Marsh's latest Global Asset Barometer, which found most large asset owners are selectively increasing capital to private markets, and noted that success increasingly depends on disciplined execution.
AltamarCAM serves institutional investors and private wealth clients, including pension funds, insurers, family offices, banks, foundations and other asset owners. Its offerings include primary fund investments, secondary transactions, co-investments, separately managed accounts and evergreen vehicles. Marsh intends to pair these capabilities in manager selection, portfolio construction, liquidity management and investment operations with its broader client relationships and global distribution.
The acquired business will adopt the Marsh brand. José Luis Molina, Co-Founder and Global CEO of AltamarCAM, will become Head of the International Private Markets Platform within Marsh's investment business, while Claudio Aguirre, AltamarCAM Founder and Executive Chairman, will serve as Chairman of the platform. The appointments are intended to maintain leadership continuity during integration. Approximately 280 AltamarCAM employees will join Marsh, working across Madrid, Munich, Barcelona, Cologne, London, New York and Santiago, Chile. Madrid will become a hub for the new international platform.
Marsh, which operates in 130 countries, employs more than 95,000 professionals and generates approximately $27 billion in annual revenue, said the acquisition supports its strategy of expanding its investment solutions business. Garvan McCarthy, Global Alternatives Chief Investment Officer of Marsh Investments and Retirement, cited Marsh's latest Global Asset Barometer, which found most large asset owners are selectively increasing capital to private markets, and noted that success increasingly depends on disciplined execution.
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