SPS takes over Fundamenta to create largest Swiss asset manager

The operation is said to create Switzerland’s largest independent real estate asset manager, with total AuM of CHF 13 bn (€13.5 bn). It will also provide SPS with a platform for growth in Germany.

Fundamenta, founded in 2006 and based in Zug and Munich, manages CHF 4.2 bn across various investment vehicles (listed real estate company, investment foundation, promotion vehicle, fund, SICAV and direct mandates). Fundamenta has around 2,000 investors and serves institutional clients (e.g. pension funds, banks and insurance companies) as well as high net worth private clients and family offices.

The company focuses on residential real estate, which makes up for 75% of its portfolio.

René Zahnd, CEO of Swiss Prime Site, said: 'Fundamenta is a perfect fit for us. With this move, we are continuing to pursue our focused real estate strategy and substantially strengthening the asset management arm of Swiss Prime Site Solutions. We are thereby growing and expanding our investor base and broadening our product range, especially in the residential segment. Furthermore, we will now be able to offer our Swiss clients direct access to the German real estate market, which we believe will present an attractive option alongside Swiss investments in future.'

David Garcia, founder and director of Fundamenta Group, added: 'Having founded and then successfully built the company over the past 18 years, our family is now very proud to be handing over our real estate division to Swiss Prime Site. Ensuring long-term continuity for investors, employees and partners was a key concern for us during the process. But with Swiss Prime Site, this is now guaranteed.'

Swiss Prime Site is acquiring Fundamenta from the existing shareholders, who comprise the Garcia and Marxer families, the Luzerner Kantonalbank and the management. The parties have agreed to not disclose the transaction price.

The transaction is expected to be completed in the second quarter of 2024.