Macquarie to take over Innovest from Siemens

Professional ServicesFinancial Services ♦ Published: October 7, 2010; 12:55 ♦ (Vindobona)

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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