Marsh to Expand Its Private Markets Capabilities With the Addition of AltamarCAM

NEW YORK--(BUSINESS WIRE)--Mercer, a business of Marsh (NYSE: MRSH) and a global leader in helping clients realize their investment objectives, shape the future of work and enhance health and retirement outcomes for their people, has agreed to acquire AltamarCAM, a specialist private markets asset manager and solutions provider with €20 billion in assets under management¹. After closing, AltamarCAM will become an integral part of Mercer’s wider private markets business.

With the integration of AltamarCAM, Mercer will significantly expand its private markets platform, adding expertise in secondaries, co-investments, bespoke accounts, and evergreen vehicles, to offer comprehensive multi-asset private markets solutions to clients.

“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,” said Michael Dempsey, Mercer’s Global President for Investments and Retirement.

Claudio Aguirre, AltamarCAM’s Co-Founder and Executive Chairman, said: “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.”

Mercer has been expanding its private markets capabilities, deepening general partner relationships, and building a track record of innovative private markets advice and solutions for asset owners for over 30 years. Private markets investments are a meaningful share of Mercer’s $692 billion in global assets under management.²

Founded more than 22 years ago, AltamarCAM has built a global private markets business, with more than 280 employees dedicated to helping insurers, family offices, pension funds, foundations, banks, and other wealth platforms across Europe and Latin America to source, execute, and monitor private market investments.

As part of the acquisition, Madrid — where AltamarCAM is headquartered — will become a strategic hub within Mercer’s global private markets platform, strengthened by the deep and broad expertise of both firms’ leaders as well as their investments and specialist operations talent.

The transaction is subject to customary closing conditions, including regulatory filings, and is expected to close in the second half of 2026. As of next year, the combined businesses will go to market under the Marsh brand.

About Mercer
Mercer is a business of Marsh (NYSE: MRSH), a global leader in risk, reinsurance and capital, people and investments, and management consulting, advising clients in 130 countries. With annual revenue of $27 billion and more than 95,000 colleagues, Marsh helps build the confidence to thrive through the power of perspective. For more information about Mercer, visit mercer.com, or follow us on LinkedIn and X.

About AltamarCAM
AltamarCAM Partners is a global, partner-led private markets investment firm and solutions provider, with €20bn in assets under management, offering efficient access to global alternative investments. The firm serves institutional investors and private wealth clients across private equity, venture capital, real assets and private credit through primary, secondary and co-investment strategies. For more information about AltamarCAM, visit altamarcam.com or follow us on LinkedIn.

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^1 As of December 31, 2025

^2 As of December 31, 2025