The acquisition demonstrates Patrizia’s strategy to broaden its product offering for its clients and, at the same, increases the global reach of Patrizia. SPI is a global expert in fund of funds investments with around EUR 1 billion assets under management. The company currently manages four real estate funds with equity commitments totalling EUR 1.5 billion.
Commenting on the acquisition of SPI, Patrizia CEO Wolfgang Egger says: “This acquisition is a further demonstration of our ambition to expand through inorganic growth. SPI, with its strong track record and complementary global setup, is a perfect fit for Patrizia, enabling our investors to tap into a new product line and new markets. In addition, we are working on a number of initiatives which will create even more opportunities for our clients."
Founded in 2005 by its managing partners in cooperation with Sparinvest, a Danish financial institution, SPI has become a major player in the real estate fund of funds segment. Working with a global network of select best-in-class operating partners, SPI’s funds are invested across Europe, Asia and the Americas.
SPI will become a member of the Patrizia Group. As a fully-owned subsidiary, it will retain full autonomy with regard to investment decisions concerning its funds. SPI’s fund of funds products will be added to Patrizia’s product line. “With our pan-European network and our more than 200 institutional investors, we can unlock further growth potential within SPI’s products,” says Wolfgang Egger.
Patrizia Acquires SPI
Denmark — Patrizia Immobilien AG has acquired Copenhagen-based Sparinvest Property Investors (SPI), one of the leading global real estate fund of funds investment managers in the small- and mid-cap segment. SPI manages funds with equity commitments totalling EUR 1.5 billion.
Axel Ohlsson[email protected]