British private equity firm Montagu Private Equity has agreed to acquire German independent investment company Universal-Investment for an undisclosed sum.
Montagu has bought the German firm from the latter’s current owners Berenberg and Bankhaus Lampe.
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Universal-Investment, based in Frankfurt/Main, focuses on fund administration, securities, alternative investments and real estate, and also comprises subsidiaries in Luxembourg and Austria. The group has €280bn of assets under administration and employs 650 staff.
Universal-Investment has increased its assets under administration from about €70bn to €280bn in the past ten years, the German firm said.
Montagu Private Equity director Daniel Fischer said: “For more than 45 years, Universal-Investment has been a pioneer in the investment industry and the benchmark for servicing master funds (Master-KVG) and private label funds.
“We’re particularly impressed by the performance of the management team, which has developed Universal-Investment into a growing platform with an outstanding reputation. We’re excited to work closely with Bernd Vorbeck and his team going forward, accompanying them through the company’s next growth phase.”
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By GlobalDataThe acquisition of Universal-Investment, which is subject to regulatory approval, marks Montagu’s second investment in the financial services sector in the German-speaking region. The firm snapped up Swiss-based Equatex from UBS Bank in 2015.
