The insurance broker Marsh has completed the purchase of AltamarCAM, an operation announced last March, as the company communicated this Wednesday.
AltamarCAM is specialized in private markets and provides services to insurers, "family offices", pension funds, foundations, banks and other institutional and wealth clients in Europe and Latin America.
With this integration, Marsh strengthens its presence in private markets thanks to AltamarCAM’s experience and its multi-asset solutions in secondaries, coinvestments, tailored accounts and "evergreen" vehicles. After the transaction, assets under management by Marsh in this segment reach $75 billion (€66.606 billion).
Going forward, AltamarCAM will adopt the Marsh brand and its management team will move into positions of responsibility in the firm’s new international private markets platform. The 280 professionals distributed across seven cities will join the broker’s staff, whose headquarters for this platform will be located in Madrid.
The chief executive officer and cofounder of AltamarCAM, José Luis Molina, will be responsible for Marsh’s international private markets platform. For his part, the president and cofounder, Claudio Aguirre, will assume the presidency of this division.