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LGT Group to acquire the Insurance-Linked Investments boutique of Clariden Leu Ltd.

March 13, 2012

LGT Group, with its focus in international private banking and asset management, will take over the Insurance-Linked Investments (ILS) business of Clariden Leu Ltd. With this acquisition, LGT Capital Management – the traditional asset manager of LGT Group – will strengthen its investment competency and further enhance its offering. ...  

Subject to legal and regulatory approvals, the transaction is expected to close in the second quarter of 2012. With the purchase of the Insurance-Linked Investments business of Clariden Leu Ltd., LGT Capital Management will obtain all insurance-linked funds of Clariden Leu Ltd. This includes a team of ten specialists and the following four fund structures:

Clariden Leu (CH) Cat Bond Fund; Clariden Leu (Lie) Cat Bond Fund; Clariden Leu (Lux) – Cat Bond Fund; Clariden Leu (Gue) ILS Plus Fund with around CHF 2 bn assets.

Strong market position ensures continuity of ILS-investment strategy
With their strong market position and extensive experience as institutional asset manager, LGT Capital Management will ensure the successful continuity of the investment strategy whilst maintaining the full interest of all investors. “This acquisition allows us to further strengthen our market position as a provider of focused investment solutions in asset management. We are pleased to attain such an experienced team that has been very successful in this area over many years” explains H.S.H. Prince Max of Liechtenstein, CEO of LGT Group.
“As a long-standing investor in the insurance-linked asset class, and especially within the Clariden Leu funds, we are convinced of the quality of the team, their consistent investment strategy and the disciplined investment style. With this step, we will enhance our core competencies and expand our product strategy”, explains Torsten de Santos, CEO of LGT Capital Management. “Over the past few years, the Insurance-Linked Investments team has successfully positioned this business for Clariden Leu and was able to strengthen it considerably. I wish the entire portfolio management team every success and all the best for the future”, says Hanspeter Kurzmeyer, CEO of Clariden Leu Ltd. “We are convinced that the acquisition of this business by LGT Capital Management provides us with the opportunity to continue our successful investment strategy and to expand our business in this asset class”, emphasizes Michael Stahel, Head of Insurance-Linked Investments of Clariden Leu Ltd.

With this acquisition, LGT Capital Management will increase its assets under management to over CHF 22 bn. The purchase price for the transaction will not be disclosed.