Bellevue Group, a Switzerland-based financial boutique, is planning to acquire 100% of StarCapital, a Germany-based asset manager with CHF2.5bn in assets under management.
This deal includes the StarCapital’s entire range of investment funds with total client assets of CHF2.5bn as well as all of its 16 employees.
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The acquisition will enable Bellevue Group to expand into new asset classes and strengthen its offering of non-healthcare investment solutions.
Following the transaction, StarCapital will continue to operate as an independent company and retain its brand name as well as its current employees.
Bellevue expects a capital increase of CHF 30-40m via rights issue to finance the acquisition and to retain its strategic flexibility for further acquisitive action. The acquisition is intended to be immediately value accretive for all shareholders.
As part of the agreement, StarCapital partner and fund manager Peter Huber will purchase a stake in Bellevue Group.
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By GlobalDataHuber said: "The StarCapital funds will continue to be managed by their current managers using their time-tested investment process. Peter E. Huber will continue to manage the equity, bond and wealth management funds and Markus Kaiser will be responsible for the ETF strategies.
"Capital market research, an important tool of the fund management company, will remain the responsibility of Norbert Keimling."
Bellevue Group CEO André Ruegg said: "With StarCapital`s wealth management funds, we can offer our clients first-class multi-asset and flexible equity and fixed-income solutions.
"This acquisition enhances our presence in Germany and our access to this key European market. Expansion into new asset classes and the enlargement of our investment product range beyond the healthcare sector will further diversify Bellevue Asset Management`s income base and boost recurring income."
