Noerr advises J.C. Flowers portfolio company on acquisition of asset manager ProVidens

A team from Noerr headed by Volker Land and Vanessa Hoffmann Linhard has advised HRK LUNIS AG on the acquisition of ProVidens Vermögensmanagement GmbH. HRK LUNIS AG is a portfolio company of US investor J.C. Flowers.

The target of HRK LUNIS AG’s acquisition, ProVidens, is an owner-managed independent asset management company which looks after the assets of wealthy private individuals, families, companies, foundations and other institutional clients. It has assets under management worth some €400 million. The company is to be fully integrated into HRK LUNIS AG.

HRK LUNIS AG is one of the leading independent asset managers in the German-speaking regions with assets under management of approximately €5.85 billion. It was formed around two years ago from the merger of the Flowers company Lunis Vermögensmanagement AG and Huber, Reuss & Kollegen Vermögensverwaltung GmbH – also advised by Noerr and a team led by Volker Land. Volker Land is a partner from the firm’s Hamburg office and a specialist in banking M&A who previously advised J.C. Flowers on the acquisition and privatisation of Hamburg Commercial Bank AG (HSH Nordbank).

Closing of the transaction is expected to take place in August 2024, subject to regulatory approvals.

Advisors to HRK LUNIS AG: Noerr

Lead: Volker Land (partner, M&A), Vanessa Hoffmann Linhard (associated partner, M&A, both Hamburg)

Capital Markets: Stephan Schulz (partner), Jan Hoffmann Linhard (senior associate, both Hamburg)

Financial Services Regulation: Jens H. Kunz (partner), Klaudyna Lichnowska (senior associate, both Frankfurt)

Real Estate Investment Group: Valentina C. Glasa (senior associate, Frankfurt)

Tax: Elmar Bindl (partner), Steffen Arlich (senior associate, both Munich)