Lloyd Fonds has added nearly €650m ($729m) in managed assets in a deal to take over SPSW Capital that will see the German asset manager rebranded.
The company, which has significant shipping investments, is acquiring 90% of the SPSW's stock and has an option to buy the remaining 10%.
SPSW co-founder Achim Plate has become Lloyd Fonds CEO in the process, with Klaus Pinter staying as CFO.
