AlTi Tiedemann Global, a publicly traded international wealth management and alternative investments company with more than $77 billion in assets, has acquired Kontora Family Office, a Hamburg, Germany-headquartered multi-family office and asset management firm with about $15 billion in AUM.
This is AlTi Tiedemann’s first European-based acquisition since selling stakes to Allianz X and Constellation Wealth Capital last year. The firm earmarked a portion of Allianz X’s investment for its expansion into Germany, the third-largest ultra-high-net-worth market in the world.
The deal is expected to close in the second quarter of 2025.
Kontora is a founder-run business that serves clients primarily in Germany and Austria. It specializes in open- and closed-end funds and alternative strategies. As part of the deal, co-CEOs Stephan Buchwald and Dr. Patrick Maurenbrecher will reinvest a portion of the proceeds into AlTi. They will move into senior positions at AlTi and help with its strategy in the German market.
“Germany is a sophisticated and deep market with established wealth and a thriving entrepreneurial scene, and we look forward to working with Kontora to offer best-in-class global access and solutions with the service of a boutique family office,” AiTi Tiedemann Global CEO Michael Tiedemann said in a statement. “The continued backing from Allianz X reflects their conviction in AlTi’s ability to build a leading position in the UHNW segment and demonstrates their clear value as a strategic investor.”
Last February, the firm announced that Allianz X, an arm of European holding company Allianz SE that buys pieces of new and established companies with cutting-edge tech and considerable growth potential, was investing $250 million through a combination of $110 million in newly issued Class A common stock and $140 million in newly created Series A convertible preferred stock.
Constellation’s investment of $150 million included an initial investment of $115 million in new Series C convertible preferred stock and another $35 million at the end of June.
This follows AlTi Tiedemann’s acquisitions of two U.S.-based registered investment advisors last year.
Last April, the firm acquired East End Advisors in New York City for an initial $76 million. East End Advisors reported managing almost $5.25 billion for nine ultra-wealthy households and nine charities, with another $1.2 billion under advisement.
Then, in May, it bought Envoi LLC, a Minneapolis-based multi-family office with $3 billion of AUM. That deal was valued at $25.2 million, contingent on post-closing payments payable over a four-year period.
About two years ago, Tiedemann merged his New York-based RIA and alternative asset management firms, Tiedemann Group and TIG Advisors, with London-based asset manager, merchant bank and global multi-family office Alvarium Investments and took them public via a special purpose acquisition company.