13.06.2019 – 10:00
Hauck & Aufhäuser acquires majority stake in Irish Crossroads Capital Management Limited
Via its subsidiary Hauck & Aufhäuser Fund Services S.A. in Luxembourg Hauck & Aufhäuser AG acquires a majority stake in Crossroads Capital Management Limited (CCM). CCM is an well-established Alternative Investment Fund Manager (AIFM) and a UCITS management company based in Dublin, Ireland, specializing in a range of services for investment managers and fund promoters in Europe. The acquisition which is subject to the approval of the Central Bank of Ireland adds an international component to the product portfolio of the core business segment Asset Servicing. After completion of the transaction, Hauck & Aufhäuser's assets under control will amount to approximately 124 bn. EUR.
"Ireland is an important hub for the launch and international distribution of investment funds. With 4.6 tn. EUR Assets under Administration, Ireland is the second largest European hub after Luxembourg. For this reason, we want to take this strategic first step to Ireland, which we were able to realize through this acquisition," says Dr. Holger Sepp, Member of the Management Board of Hauck & Aufhäuser, who is among other segments responsible for the core business area Asset Servicing. "We also look forward to continuing to work on this project with Donnacha Loughrey (Managing Director) as a partner and to being able to rely on the quality and expertise of CCM's current team in the future. CCM ideally complements our range of services." With this acquisition, Hauck & Aufhäuser is taking a significant step towards implementing its internationalization strategy in Europe.
"We are delighted to partner with Hauck & Aufhäuser, a niche player in Asset Serving and one of Luxembourg's largest fund service providers. The global fund industry has undergone a very dynamic development and, with the support of Hauck & Aufhäuser, we expect considerable opportunities to expand our business. The partnership will enable us to offer a range of additional services to our existing clients while expanding and offering our fund solutions to a larger global client base," added Donnacha Loughrey, Managing Director of CCM.
About Hauck & Aufhäuser Privatbankiers AG
Hauck & Aufhäuser can look back with pride at a history spanning 223 years. The bank was created through the merger of two highly traditional private banks: Georg Hauck & Sohn Bankiers, founded in Frankfurt am Main in 1796, and Bankhaus H. Aufhäuser, on the market in Munich since 1870. The two banks merged in 1998. The Management Board of the bank comprises the Chairman, Michael Bentlage, and the Management Board members, Dr. Holger Sepp and Wolfgang Strobel. Hauck & Aufhäuser considers itself to be both a highly traditional and, at the same time, a highly modern private bank.
From its corporate locations in Frankfurt am Main, Munich, Hamburg, Düsseldorf, and Cologne, the bank focuses on delivering holistic advisory and management services to its private and corporate clients, managing the assets of institutional investors, providing comprehensive fund services for financial and real assets in Germany and Luxembourg, and successful cooperation with independent asset managers. In addition, we offer research, sales and trading activities specializing in small and mid-cap enterprises in German-speaking countries as well as tailored services for IPOs and capital increases. The main focus of our business activities is on providing holistic and personal advice as the basis for developing tailored solutions.
About Crossroads Capital Management Limited
Crossroads Capital Management Limited is regulated by the Central Bank of Ireland as a UCITS management company pursuant to the European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations 2011 (as amended) and also authorized by the Central Bank of Ireland as an alternative investment fund manager pursuant to European Communities (Alternative Investment Fund Managers) Regulations 2013.
Original content of: Hauck & Aufhäuser Privatbankiers AG, transmitted by news aktuell