DWS is expanding its real estate investment management business by acquiring Peakside Capital Advisors.
The global asset manager has signed binding agreements to acquire 100% of Peakside from shareholders led by its founders and managing partners, Stefan Aumann and Boris Schran.
Peakside is a specialist real estate asset manager focused on value-add and opportunistic investments in Germany and Central and Eastern Europe.
Headquartered in Zug, Switzerland, Peakside operates across Germany, Luxembourg and Poland, investing in office, retail, logistics and residential real estate. It manages more than €1.7bn in assets, mainly on behalf of institutional investors.
Peakside’s current owners Stefan Aumann, Boris Schran and Simon Lutz, together with other members of Peakside’s senior management team, Frank Schäfer and Karol Maziukiewicz, will remain with the business following completion of the transaction.
DWS said the transaction will strengthen its alternatives platform by adding established value-add and opportunistic investment expertise and a strong track record to its European real estate business led by Clemens Schaefer.
Stefan Hoops, CEO of DWS, said: “The acquisition of Peakside is an important step in strengthening our alternatives platform. Peakside will add established capabilities and a strong track record in value-add and opportunistic real estate investing in Europe. It sends a clear signal that real estate is a core part of our alternatives offering and an exciting asset class that we want to grow.”
Stefan Aumann, founder and managing partner of Peakside, added: “By combining our investment expertise with DWS’ client relationships, distribution capabilities and global platform, we see significant opportunities to further develop the business and the solutions we provide to investors. We look forward to continuing to develop the business as part of DWS and to supporting its next phase of growth.”
Boris Schran, founder and managing partner of Peakside, said: “Our clients and existing investments will remain at the heart of our business. Together with DWS, we will focus on preserving continuity, maintaining the entrepreneurial DNA of our team and shaping an exciting new chapter together.”
The transaction is expected to close by the end of the year.
