Lloyd Fonds has added nearly €650m ($729m) in managed assets in a deal to take over SPSW Capital that will see the German asset manager rebranded.
The company, which has significant shipping investments, is acquiring 90% of the SPSW's stock and has an option to buy the remaining 10%.
SPSW co-founder Achim Plate has become Lloyd Fonds CEO in the process, with Klaus Pinter staying as CFO.
Plate was previously chairman of the supervisory board, but will serve a four-year term as CEO.
Lloyd Fonds called the deal an important step in its strategy, as assets under management, including ships, rise to more than €1bn.
Shareholders will now be asked to change the company's name to Lloyd Capital.
SPSW manages two investment funds and one hedge fund.
The purchase price for the 90% holding is expected to range between €41.6m and €55.6m.
Michael Schmidt, chief investment officer at Lloyds Fonds, said: "With the SPSW funds, which already boast a highly successful track record spanning several years, we are expanding our fund offering perfectly.
"This will allow us to unlock added value compared with passive investment approaches across a wide range of risk-return profiles.”
Lloyd Fonds is also issuing a convertible bond worth up to €6.5m over three years.
In 2018, it posted a loss before tax of €1.5m.
