Two private investors have completed the acquisition of a controlling stake in German fund and asset management firm KGAL.
Two private investors have completed the acquisition of a controlling stake in German fund and asset management firm KGAL.
Francis Louvard and Gregory Ingram - founders of Luxembourg-based investment vehicle Thunderbolt Partners - acquired a 90% holding in KGAL from existing shareholders, Bayerische Landesbank, Commerzbank, HASPA Finanzholding and Sal. Oppenheim.
The takeover has been approved by the German Federal Financial Supervisory Authority (BaFin).
Louvard and Ingram support KGAL's aim of becoming an independent investment manager for institutional investors in Germany and abroad. The focus will remain on real estate, infrastructure and aircraft assets.
‘After signing the contract in December 2013, we are delighted that BaFin has now granted approval for transferring the KGAL Group shares,' said Louvard. 'Together with the management, we can now work intensively on further expanding KGAL’s success. We both have experience with real estate and, for a long time, have acknowledged KGAL’s great expertise in this area.'
KGAL manages a total investment volume of €24 bn in assets, including almost €8 bn in real estate.
