Marsh has acquired private markets asset manager and solutions provider AltamarCAM and established a new international private markets platform.
AltamarCAM serves pension funds, family offices, insurers, and other institutional and wealth clients across Europe and Latin America.
Marsh said the acquisition strengthened its private markets capabilities with the addition of AltamarCAM’s multi-asset private markets expertise and solutions across secondaries, co-investments, bespoke accounts, and evergreen vehicles.
Following the transaction, Marsh’s private markets assets under management have risen to US$75bn.
AltamarCAM will adopt the Marsh brand, and its leadership team will assume senior positions in Marsh’s new international private markets platform.
AltamarCAM co-founder and global CEO, José Luis Molina, will become the head of the international private markets platform for Marsh’s investments business, while founder and executive chair, Claudio Aguirre, will become the chair of the international private markets platform.
The firm’s 280 employees across London, Madrid, Munich, Barcelona, Cologne, New York, and Santiago de Chile have joined Marsh.
Marsh also announced that Madrid has become a hub for its new international private markets investment platform.
The terms of the acquisition were not disclosed.
“Marsh’s latest Global Asset Barometer found most large asset owners are selectively increasing capital to private markets,” commented Marsh Investments and Retirement global alternatives chief investment officer, Garvan McCarthy.
“Success increasingly depends on disciplined execution and solutions that support more mature private market programs.
“By combining AltamarCAM’s capabilities with Marsh’s global platform, we can help clients invest in private markets with confidence, with access to a broad range of opportunities across asset classes, delivered by a specialist team backed by the perspective of a global firm.”
Molina added: “AltamarCAM has always been committed to supporting clients as their private markets needs evolve.
“Joining Marsh gives our colleagues the opportunity to deliver greater impact to clients across a broader range of solutions and markets. We look forward to building on our strong foundation together.”
