Asset manager Perella Weinberg Partners (PWP) has launched an office in Munich – its first office in Germany.

PWP partners Marcus Schenck and Stefan Jentzsch will be in charge of the new office.

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The pair will be supported PWP head of European Advisory Dietrich Becker.

Commenting on the expansion, Schenck noted: “Munich is home to many German companies, from venerable blue chips to vibrant start-ups.

“As a magnet for talent and a central location for easily reaching clients throughout the German-speaking region and beyond, it’s our natural first choice in establishing a local presence in Europe’s largest economy.”

The new office is the firm’s third outpost in Europe.

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Expansion in Germany is said to be a significant part of PWP’s European growth plan.

In 2018, PWP established an office in Paris, France, marking its first formal presence in continental Europe.

Becker said: “Germany has been one of our key markets from inception and a local presence is the logical next step as we build our European footprint.

“Our Munich office will take us closer to our clients in Germany but also serve as a hub for some of our most experienced sector bankers providing advice to our firm’s global client base.”

PWP also has operations in New York, Houston, London, Calgary, Chicago, Denver, Los Angeles, Paris, and San Francisco. The firm’s staff headcount is over 550.