While the entire fund range and all 16 employees will join Bellevue, the StarCapital brand will remain intact.
Its office located in Oberursel, near Frankfurt, should boost Bellevue’s position in a key European market, a statement said.
The combined product range will retain StarCapital’s expertise in fixed interest and multi-asset, while introducing Bellevue to non-healthcare sectors.
The deal is subject to regulatory approval by Swiss and German authorities Finma and BaFin.
Fund managers remain
StarCapital’s funds, with CHF2.5bn in AUM, will continue to be run by their current managers and their investment processes will not change.
Peter Huber, partner and fund manager at StarCapital, will buy a stake in Bellevue and continue to manage the equity, bond, and wealth management funds.
Markus Kaiser will still be responsible for the ETFs and capital market research will remain with Norbert Keimling.
Following the AGM on 22 March, Bellevue is preparing a CHF30-40m rights issue next quarter, expected to fund the acquisition, allowing it to consider future acquisitions.
Diversification
André Rüegg, chief executive of Bellevue Group said: “With StarCapital’s wealth management funds, we can offer our clients first-class multi-asset and flexible equity and fixed-income solutions.
“Peter Huber, who has played a pivotal role in shaping and growing StarCapital, is recognised as one of Germany’s most experienced asset managers.
“This acquisition enhances our presence in Germany and our access to this key European market. Expansion into new asset classes and the enlargement of our investment product range beyond the healthcare sector will further diversify Bellevue Asset Management’s income base and boost recurring income.”
