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. The transaction strengthens Marsh’s capabilities across private equity, private credit, real assets, and alternative investment strategies while establishing a larger international private markets platform.
Announced on November 4, 2026, the completed acquisition combines AltamarCAM’s investment expertise with Marsh’s global financial services and advisory infrastructure.
AltamarCAM serves institutional investors and private wealth clients, including pension funds, insurers, family offices, banks, foundations, and other asset owners.
Its investment offerings include primary fund investments, secondary transactions, co-investments, separately managed accounts, and evergreen investment vehicles.
These capabilities will expand the range of private markets solutions available through Marsh’s investment business.
The acquisition also increases Marsh’s ability to support investors seeking diversified exposure to alternative assets.
Institutional investors increasingly use private markets strategies to pursue long-term returns, diversification, and access to investments outside publicly traded securities.
However, these strategies can require specialized capabilities involving manager selection, portfolio construction, liquidity management, and investment operations.
Marsh intends to combine AltamarCAM’s expertise in these areas with its broader client relationships and global distribution capabilities.
The acquired business will adopt the Marsh brand, with its leadership taking senior positions in the firm’s new international private markets organization.
José Luis Molina, Co-Founder and Global CEO of AltamarCAM, will become Head of the International Private Markets Platform within Marsh’s investment business.
AltamarCAM Founder and Executive Chairman Claudio Aguirre will serve as Chairman of the International Private Markets Platform.
These appointments are intended to maintain leadership continuity while integrating the business into Marsh’s operations.
Approximately 280 AltamarCAM employees will join Marsh.
The team operates across Madrid, Munich, Barcelona, Cologne, London, New York, and Santiago, Chile.
Madrid will become a hub for Marsh’s new international private markets investment platform.
The acquisition strengthens Marsh’s geographic presence in Europe and Latin America while adding investment expertise across several private asset classes.
Marsh’s broader organization provides services involving risk, reinsurance, capital, people, investments, and management consulting.
The company operates in 130 countries, employs more than 95,000 professionals, and generates approximately $27 billion in annual revenue.
The addition of AltamarCAM is intended to support the company’s strategy of expanding its investment solutions business.
By combining specialized investment management capabilities with its global resources, Marsh aims to provide institutional and wealth management clients with broader access to private markets opportunities.
KEY QUOTES:
“Marsh’s latest Global Asset Barometer found most large asset owners are selectively increasing capital to private markets. 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.”
Garvan McCarthy, Global Alternatives Chief Investment Officer Of Marsh Investments And Retirement
“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.”
José Luis Molina, Co-Founder And Global CEO Of AltamarCAM
