Germany-based Baden-Württembergische Equity (BWEquity) has announced being merged with LBBW Asset Management Investmentgesellschaft (LBBW Asset Management).
As part of the development of the Asset and Wealth Management (AWM) business area in the LBBW Group, BBWEquity is a 100% subsidiary of LBBW and acts as a competence centre for the alternative real asset investments for the LBBW Group, cooperating banks and savings banks. The further legally necessary steps are expected to be implemented by the end of 2021.
According to an LBBW Asset Management representative, the merger will synchronise the existing competencies and processes of BWEquity and LBBW Asset Management to enable the company to offer their customers more tailored solutions. BWEquity will then be merged as a separate division within LBBW Asset Management retrospectively from 1 January 2021 by 31 December 2021 at the latest. BWEquity will be responsible for the selection process and sales of all alternative investment fund offers.
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