Marsh announced that its business Mercer has agreed to acquire AltamarCAM, a private markets asset manager and solutions provider with €20 billion in assets under management as of December 31, 2025.
Following the closing of the transaction, AltamarCAM will become part of Mercer’s broader private markets business, significantly expanding its capabilities across secondaries, co-investments, bespoke accounts, and evergreen investment vehicles. The combined platform is designed to deliver more comprehensive multi-asset private markets solutions to institutional and wealth clients globally.
Mercer has been building out its private markets capabilities for more than 30 years, and private markets investments already represent a substantial portion of its $692 billion in global assets under management. The addition of AltamarCAM strengthens Mercer’s ability to meet growing client demand amid increasing complexity in private markets.
Founded over 22 years ago, AltamarCAM operates globally with more than 280 employees, serving insurers, pension funds, family offices, banks, and other institutional investors across Europe and Latin America. The firm provides access to private equity, venture capital, real assets, and private credit through primary, secondary, and co-investment strategies.
As part of the integration, Madrid will become a strategic hub within Mercer’s global private markets platform. The combined organization will leverage the leadership, investment expertise, and operational capabilities of both firms.
The transaction is subject to customary closing conditions, including regulatory approvals, and is expected to close in the second half of 2026. Beginning next year, the combined businesses will go to market under the Marsh brand.
KEY QUOTES:
“As private markets continue to evolve, marked by growing demand and complexity, innovation, specialist expertise, global reach and scale have never been more critical. Our combination with AltamarCAM further strengthens our private markets offerings and our role as a leading, global private markets solutions and advisory firm.”
Michael Dempsey, Global President For Investments And Retirement At Mercer
“This is the ideal match for AltamarCAM. We continually analyze how we can optimise and enhance our service to clients. The complementary capabilities brought together by this transaction will directly benefit our clients and colleagues, and our senior partners will play a key leadership role in the combined private markets business.”
Claudio Aguirre, Co-Founder And Executive Chairman Of AltamarCAM
