Private equity firm Seven2 has reached a binding agreement with J.C. Flowers to purchase a majority stake in German wealth management platform HRK LUNIS.
This deal is Seven2’s inaugural investment in the German market.
Go deeper with GlobalData
The HRK LUNIS management team will retain leadership of the business, with CEO and co-founder Andreas Brandt retaining a “significant” ownership stake.
The company provides a comprehensive range of competitive wealth management services, including discretionary and advisory wealth management, investment management, private equity, and family office services under the Wertiq brand.
Clients will benefit from a fully integrated platform featuring a centralised investment office and a unified IT infrastructure.
The company has grown through mergers and acquisitions, including the merger with Hubert, Reuss & Kollegen in 2023 and the acquisition of ProVidens in 2024.
HRK LUNIS now stands among the top five largest German independent wealth managers, with over 100 employees managing over €6.6bn ($7.7bn) in assets for more than 2,200 clients.
Brandt said: “We want to thank J.C. Flowers for the great partnership over the past eight years, and we are happy to welcome Seven2 as our future partner to further drive organic and inorganic growth, and strengthen the positioning within the German independent wealth manager market as well as across the broader DACH region.”
The transaction is expected to close in the fourth quarter of this year, subject to regulatory approvals.
Seven2 partner Dr Florian Wolff said: “We are thrilled to welcome HRK LUNIS into the Seven2 family.
“This partnership reflects our deep confidence in this outstanding team, whose expertise and entrepreneurial culture have built a unique business in the German independent wealth segment.”
Rothschild & Co, Latham & Watkins, and Alvarez & Marsal are advising Seven2 on the acquisition. Houlihan Lokey and Noerr are advising J.C. Flowers and HRK LUNIS.
Last month, Canada’s Infinite Investment Systems, a wealth-tech company, secured a majority investment from J.C. Flowers.
