Tuesday, 27 January 2015
Last updated 55 min ago
Feb 17 2012 | 3:19am ET
Germany's Universal-Investment has acquired UCITS III platform SEB Master KAG.
The deal gives the hedge fund firm an additional €110 million in assets and a platform with funds managed by the liked of Tungsten Capital Management and Volksbank Invest. The merger will take place over the course of this year.
"This acquisition will strengthen our position as the only complete provider of administration services in Germany," Universal's Bernd Vorbeck said.
"SEB has had business ties with Universal-Investment for many years," SEB Chairman Fredrik Boheman said. "SEB and Universal-Investment will continue to cooperate together in the sectors of custodian banks, prime brokerage and brokerage."
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…