Global consultancy Mercer has acquired Madrid-based private markets firm AltamarCAM for an undisclosed sum, adding secondaries capabilities to its portfolio. The deal comes as interest in liquidity solutions grows across private markets. AltamarCAM's expertise in secondaries transactions will complement Mercer's existing asset management business, which oversees $692 billion in assets under management.

AltamarCAM had previously secured a 40 percent stake from Permira's Growth Opportunities II fund in 2021, a $4 billion vehicle focused on minority growth investments in technology. The timing of Mercer's acquisition suggests growing demand for secondaries expertise as investors seek more flexible exit options. AltamarCAM's capabilities were particularly attractive given current market conditions.

Michael Dempsey of Mercer told PEI that AltamarCAM represents the 'missing link' in their private markets offering. The acquisition positions Mercer to better serve institutional clients navigating complex liquidity needs in private markets. This strategic move reflects broader industry trends toward integrated solutions for private market investments.