M.M. Warburg & CO sells Asset Management in Luxembourg to Apex Group

Hamburg — Allen & Overy LLP has advi­sed Hamburg-based private bank M.M. Warburg & CO (AG & Co.) KGaA (“Warburg”) on the sale of its subsi­dia­ries Warburg Invest Luxem­bourg S.A. and M.M. Warburg & CO Luxem­bourg S.A. to Apex Group Ltd (“Apex”), a port­fo­lio company of Genstar Capi­tal. The two dive­s­ted subsi­dia­ries manage $50 billion in assets under manage­ment. Apex had previously acqui­red Deut­sche Bank’s Alter­na­tive Fund Service busi­ness, among others. — Warburg and Apex will enter into a stra­te­gic part­ner­ship for Luxe­m­­bourg-based asset manage­ment services.

The tran­sac­tion is still subject to appr­oval by various regu­la­tory autho­ri­ties. Comple­tion is plan­ned for the second quar­ter of 2018. The parties have agreed not to disc­lose further details of the transaction.

By selling its two subsi­dia­ries, Warburg Bank intends to focus even more on growth in the German market and reduce the comple­xity of regu­la­tory requirements.

Advi­sor M.M. Warburg & CO: Allen & Overy Hamburg
The lead part­ner was Hamburg part­ner Dr. Nico­laus Ascher­feld (Corporate/M&A), with part­ners Dr. Heike Weber (Tax, Frank­furt), Dr. Alex­an­der Behrens (Inter­na­tio­nal Capi­tal Markets, Frank­furt), Dr. Börries Ahrens (Anti­trust, Hamburg) and Daniela Trötscher (Tax, Frank­furt); Of-Coun­­sel Frank Herring (Inter­na­tio­nal Capi­tal Markets, Frank­furt), Coun­sel Max Lands­hut (Corporate/M&A, Hamburg), Senior Asso­ciate Marco Zingler (Inter­na­tio­nal Capi­tal Markets, Frank­furt) and Asso­cia­tes Dr. Stefan Witte (Corporate/M&A, Hamburg), Dr. Moritz Meis­ter (Corporate/M&A, Hamburg) and Dr. David Wagner (Labor Law, Hamburg).

From the Luxem­bourg office, part­ners Andre Marc (Corporate/M&A) and Henri Wagner (Inter­na­tio­nal Capi­tal Markets) as well as coun­sel Cathe­rine Di Lorenzo, Yannick Arbaut, Serge Hoff­mann, Gary Cywie and asso­ciate Franz Kerger advised.

The tran­sac­tion was advi­sed in-house by Dr. Chris­toph Greiner.

About Allen Overy
Allen & Overy is an inter­na­tio­nal law firm with appro­xi­m­ately 5,400 employees, inclu­ding appro­xi­m­ately 550 part­ners, in 44 offices worldwide.

Allen & Overy is repre­sen­ted in Germany at its offices in Düssel­dorf, Frank­furt am Main, Hamburg and Munich with appro­xi­m­ately 220 lawy­ers, inclu­ding 49 part­ners. The lawy­ers advise leading natio­nal and inter­na­tio­nal compa­nies prima­rily in the areas of banking, finance and capi­tal markets law, corpo­rate law and M&A, tax law as well as other areas of busi­ness law.