Berenberg Bank and Bankhaus Lampe announced on Thursday that they have acquired a 27% share in Frankfurt-based investment company Universal-Investment from LBBW Landesbank Baden-W眉rttemberg. The parties agreed to keep the purchase price confidential.
Berenberg Bank and Bankhaus Lampe announced on Thursday that they have acquired a 27% share in Frankfurt-based investment company Universal-Investment from LBBW Landesbank Baden-W眉rttemberg. The parties agreed to keep the purchase price confidential.
The two private banks now have full control of the investment company, each owning 50%. They have held an interest in Universal-Investment for decades and in April already bought shares from Hauck & Aufh盲user Privatbankiers, bringing their shareholding in the company to 37% each.
'The increase of shares is a clear vote of confidence in the viability and strength of our business model and again illustrates our firm's strong relationship with the two shareholders,' said Bernd Vorbeck, speaker of Universal-Investment's management board.
Universal-Investment currently has about 430 employees and administrates EUR 143 bn in over 1,000 investment mandates. It entered the real estate business in 2011 with the launch of its first real estate separate account in Luxembourg. In the near future, the company expects to launch several German real estate funds for institutional investors with a target volume of about EUR 2 bn. The recent takeover of SEB Master KAG and its hedge funds also further strengthened the bank's expertise in alternative investments.
Founded as a subsidiary of well-known banks in 1968, Universal-Investment has its headquarters in Frankfurt am Main and its own subsidiaries and shareholdings in Luxembourg and Austria.
