Schroders has acquired Munich-based Blue Asset Management.
Blue Asset Management manages €1.2bn of assets on behalf of clients across Germany, Austria and Switzerland.
The firm was established in 2009 by the three founding managing directors, Dr Artus Pourroy, Dr Thomas Wiegelmann and Tino Lurtsch.
Blue Asset Management’s portfolio consists of real estate investments across commercial and residential real estate properties. The three founding managing directors and their 17 employees will join Schroder Real Estate.
Duncan Owen, global head of Schroder Real Estate said: “This acquisition provides us with a strong team of real estate professionals and an additional office in Munich, which is the largest real estate investment market in continental Europe. This expanded team will help us support the active management of new investments and existing funds for clients.”
