Mercer is acquiring AltamarCAM, a specialist private markets asset manager and solutions provider with €20bn (£17.2bn) in assets under management (AUM).
The integration of Madrid-headquartered AltamarCAM will significantly expand Mercer’s private markets platform, the consultancy firm said, adding expertise in secondaries, co-investments, bespoke accounts, and evergreen vehicles, to offer comprehensive multi-asset private markets solutions to clients.
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“As private markets continue to evolve – marked by growing demand and complexity – innovation, specialist expertise, global reach and scale have never been more critical,” said Michael Dempsey, Mercer’s global president for investments and retirement.
“Our combination with AltamarCAM further strengthens our private markets offerings and our role as a leading, global private markets solutions and advisory firm.”
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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.”
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Mercer said that private markets investments are “a meaningful share” of its $692bn in global AUM.
The deal is expected to close in the second half of 2026.
As of next year, the combined businesses will go to market under the brand of Marsh, Mercer’s parent company.
