HVB Group and The Frank Russell company join forces to launch funds-of-funds

HypoVereinsbank International Markets, which is part of the HBV Group, and The Frank Russell Company, a global investment services firm, have announced a joint venture with the aim of launching a series of funds-of-funds for investment in Europe and the US. The investors in the vehicles, which will focus mainly on venture capital and buyout funds, are likely to be German and Austrian institutions and private investors. The minimum investment required from investors will be Euro 5m. No other details on the first vehicle to be launched are available as yet, except that the vehicles are likely to be structured according to German tax laws.The new investment team set up to manage the funds-of-funds will be headed up by Axel Gruber of HypoVereinsbank and Hal Strong of The Frank Russell Company, and will be based in Munich. The vehicles will eventually target funds concentrating on a range of sectors, stages, vintage years and management styles.The HBV Group is the second largest private commercial bank group in Germany and the leading real estate financier in Europe. It has total assets of over Euro 716bn, ranking it amongst the top ten banks in Europe. The Frank Russell Company has over Euro 78bn under management – of which over Euro 14bn are managed from Europe and is a provider of investment products in more than 35 countries. A subsidiary of Northwestern Mutual, its global headquarters are in Tacoma, USA.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• DACH