Bellevue Group wants to acquire a Frankfurt-based asset manager to boost its product portfolio. For this purpose, the investment firm needs to raise capital.
Bellevue Group plans to buy StarCapital, an independent asset manager based in Oberursel near Frankfurt, the Zurich-based company said in a statement on Tuesday.
The staff of 16 and the complete fund portfolio with assets under management of 2.5 billion Swiss francs are part of the package.
Capital Increase
The acquisition will improve the boost the holding of all shareholders, Bellevue Group said, adding that it will continue to pay dividends from the cash flow it generates.
Bellevue needs to raise its capital by 30 to 40 million francs to be able to pay for StarCapital. The increase will likely be executed in the second quarter of 2016. The board will ask for shareholder approval at the annual general meeting of March 22, 2016.
Diversification
With the acquisition, Bellevue will diversify its investment offerings. «There is no overlap between the two product ranges,» the company said in the statement. Bellevue Group's investment competence was previously focused on sector and regional strategies, while StarCapital's investment solutions consisted of bond, equity and wealth management funds as well as ETF strategies.
StarCapital will continue to operate as an independent company and retain its brand name as well as its employees.
«Expansion into new asset classes and the enlargement of our investment product range beyond the healthcare sector will further diversify Bellevue Asset Management's income base and boost recurring income,» said Bellevue CEO André Rueegg.
