Berenberg and Bankhaus Lampe set to sell Universal Investment
Universal Investment, Germany’s fifth largest fund provider, is set to be sold, German financial media report.
According to Börsen Zeitung, shareholders Berenberg and Bankhaus Lampe are planning to sell the asset management business, with the deposit business line of BNP, BNP Paribas Securities Services and BlackRock named as potential buyers, however, the latter denied that it was planning an acquisition.
Berenberg increased its share in Universal Investment to 50% four years ago, the business, which covers about 275 bn in assets under administration of which 225bn in funds structures, it is now half owned by Berenberg and half by Bankhaus Lampe.
Neither Berenberg nor Bankhaus Lampe were available to comment on the reports.