Munich is one of the wealthiest parts of the Federal Republic Germany. The cityscape of the metropolis with 1.5 million inhabitants is adorned with a multitude of magnificent Gründerzeit buildings and headquarters of industrial heavyweights such as BMW and Siemens. A mixture of a strong economy, a lively cultural scene and good rail and air connections make Munich a hotspot for the investment vehicles of wealthy families, so-called family offices. A distinction is made between single family offices and multi family offices. Single family offices manage the money of one family or one family tribe, while multi family offices pool the money of several wealthy families or advise them.
In the following, we present 10 relevant single and multi family offices from the Bavarian capital. These are part of our list of the 300 largest German single family offices as well as the list of the 100 largest German multi family offices.
1. Extorel GmbH (Single Family office)
Falk F. Strascheg built up and sold a laser technology company in the 1970s. Strascheg also built up a venture capital company and sold it to 3i. The Strascheg family’s assets are managed by the family office EXTOREL. The assets are invested in corporate investments, private market funds in the area of venture capital and private equity as well as liquid assets. EXTOREL is an important investor in Munich as well as an important benefactor. Through EXTOREL, the Strascheg family finances the Strascheg Center for Entrepreneurship, the Renate and Falk Strascheg Foundation and various cultural projects.
2. Aton GmbH (Single Family Office)
The assets of the Helmig family are managed by the ATON Family Office. This is particularly active as an investment company in the fields of engineering, mining, medtech and aviation. The investment area Digital Services has been added recently. The portfolio of the ATON Group comprises 17,300 employees and sales of around €2 billion. ATON is an extremely active investor: for example, Antriebssysteme Faurndau GmbH was acquired as recently as July 2021.
3. Reimann Investors (Single Family Office / Multi Family Office)
After members of the entrepreneurial Reimann family – in the exact Reimann-Dubbers Tei – parted with their participation in the family-owned chemical company at the end of the 1990s, the single family office Reimann Investors was founded. Over time, the family office was also opened to external investors, representing a mixture of single and multi family office. The Munich-based family office invests in passive ETFs as well as targeted individual stocks, and in corporate investments in the digital sector. Portfolio companies include Spendit, usercentrics, and Klarna (following the sale of Sofortüberweisung).
4. WEGA Invest GmbH (Single Family Office)
Entrepreneurially, the Wendeln family from northern Germany is anchored in the industrial bakery business. After the family business was sold in 2000, the family-owned Single Family Office was established in Munich. This is based on the model of US university endowments. It invests in various funds with a focus on return, impact and a balanced risk strategy. Thus, 5% of the portfolio is invested in gold, 25% in private equity, 20% in absolute return funds, 20% in equities, 15% in fixed income and 15% in real estate.
5. LEO Familienholding GmbH (Single Family Office)
The holdings of various Munich-based entrepreneurial families are pooled through the Munich-based LEO Familienholding. The investment company is organized as a family office and invests the shareholder capital. The company is an active investor, especially in the SME sector. The focus is on companies with annual sales between €10-50M. The portfolio companies of LEO Familienholding are actively growing: for example, the film and TV service company FTA Film- und Theaterausstattung was acquired via the portfolio company Cine-Mobil Holding as recently as summer 2021.
The single family offices mentioned beforehand are part of our unique German single family office list.
- Unique database of the most important German single family offices
- Easy download as Excel-list
- Whenever possible: detailed investment focus, estimated wealth, contact details included
- Preview file of our European single family office list is available here
6. Pamera Real Estate (Multi Family Office)
PAMERA is one of the most important real estate multi family offices in Germany. The Munich-based family office invests in portfolio properties, project developments and mezzanine capital. In total, PAMERA has €850 million in assets under management. In July, for example, it acquired a property in Augsburg with over 3,000 sqm of office space and around 19,000 sqm of logistics space.
7. Spudy Family Office (Multi Family Office)
Jens Spudy is one of the best-known names in Germany’s family office world. When he founded Spudy & Co. in 1994, it was one of the first multi family offices in Germany. The current Spudy Family Office GmbH, based in Munich, was founded in 2015. It combines family office services, risk management services and real estate services.
8. Madaus Capital Partners (Multi Family Office).
The Munich-based investment company MADAUS Capital Partners is a special multi family office. This is because in addition to the classic family office services – asset structuring, asset consolidation, asset controlling – it invests in direct entrepreneurial investments. While many family offices outsource this to third parties, MADAUS is actively involved itself and offers its families club deals on a deal by deal basis. Approximately 3 investments are made per year; the current investment portfolio comprises 14 companies, 11 exits have already been achieved.
9. HRK Family Office GmbH (Multi Family Office)
Huber, Reuss & Kollegen – HRK for short – is another well-known Munich-based Multi Family Office. Year after year, the company is awarded a “summa cum laude” rating in the Handelsblatt Elite Report. The family office’s services range from real estate acquisition to corporate investments and art investments. In addition, the Multi Family Office operates its own foundation which is active in various charitable areas.
10. Vermögenskultur AG (Multi Family Office)
VERMÖGENSKULTUR AG also plays an important role in Munich’s multi family office landscape. Capital magazine awards the company a five-star rating. For this purpose, the magazine reviews more than 16,000 portfolios of 87 asset managers. VERMÖGENSKULTUR achieved the highest rating. In the family office area, the company offers various services, from foundation consulting to real estate and investment management or mandate tendering and reporting services.
Picture source: Adobe Stock, 27.07.2021
The multi family offices mentioned beforehand are part of our unique German multi family office list.
- Unique database of the most important German multi family offices
- Easy download as Excel-list
- Whenever possible: focus, investment details, contact details included
- Preview file of our European multi family office list is available here