Patrizia has increased its assets under management (AUM) by 50% to more than €30bn (£26.7bn) with the acquisition of German investment group Triuva for an undisclosed sum.
Triuva manages around 40 funds, partners with more than 80 institutional investors and has 200 employees across 15 European locations. The Frankfurt-based company focuses on commercial real estate in the office, retail and logistics sectors as well as infrastructure. Currently, it manages real estate assets of around €9.8bn.
Wolfgang Egger, chief executive of Patrizia, said: “This acquisition is a perfect fit for our growth strategy. It will strengthen our European network, expand our market presence and broaden the range of products and services for our clients. We will also consolidate our position as the leading independent real estate investment manager in Europe.”
The acquisition increases Patrizia’s assets under management by around 50%, placing the company among the top 10 European real estate investment managers.
“This acquisition increases the stability of Patrizia’s business model through greater diversification and by ensuring an even greater share of our revenue comes from recurring asset management fees,” added Egger. “We also offer Triuva and its clients a stable ownership structure and new opportunities. With our sound capital base, we will continue with our successful strategy and pursue attractive opportunities which benefit our investors.”
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