Marsh Acquires AltamarCAM to Expand Private Equity Assets

✦ Meridian Analysis

Marsh has closed its purchase of the Spanish private‑equity manager AltamarCAM, a deal that was first announced in March. The transaction, whose price was not disclosed, adds AltamarCAM’s €20 billion of assets under management to Marsh’s private‑equity franchise, taking the combined AUM to roughly €66.6 billion (about $75 billion) as of the end of June. AltamarCAM’s co‑founder and CEO José Luis Molina will head the new global private‑markets platform within Marsh’s investment division, while co‑founder Claudio Aguirre will become president of that platform. The acquisition also sees the exit of private‑equity sponsor Permira, which had acquired a 40 % stake in AltamarCAM in July 2023. The mechanics are that of a full‑ownership acquisition, with AltamarCAM’s 280 staff across Europe, the United States and Latin America being absorbed into Marsh’s brand and reporting structure. What remains undisclosed are the transaction’s valuation multiples, the exact financing structure and the advisory teams involved. Details on regulatory clearances, integration timelines and any earn‑out provisions for AltamarCAM’s management have not been made public, all of which will be of interest to deal professionals monitoring the rollout of Marsh’s new private‑markets platform.

The Meridian Weekly