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Macquarie to take over Innovest from Siemens
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The Macquarie Group acquires Siemens' Innovest KAG. Innovest's activities are an important platform for Macquarie Funds Group in Central Europe and fit into the strategy of Macquarie to build a global asset management company.
Macquarie to take over Innovest from Siemens / Picture: © Innovest
Innovest serves institutional clients, particularly in Austria and Germany and manages assets of over EUR 3.5 billion, with the focus on risk budgeting and asset allocation strategies for long-term investors such as pension funds.
The entire transaction is expected to close in December 2010. Terms of the transaction were not disclosed.
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