The wealth manager and multi-family office has bought its first European business, a German MFO with more than $15.20 billion in AuM – part of a global build-out that AlTi has been carrying out. The acquired firm is based in Hamburg.

AlTi Global or AlTi Tiedemann Global, the global wealth manager with more than $77 billion in combined assets, has bought a Germany-based multi-family office.

The acquired organisation – Kontora Family Office – is headquartered in Hamburg. It has about €14 billion ($15.20 billion) in AuM. This is AITi’s first European-based deal since Allianz X injected capital into the wealth management firm. (Allianz X is an investment arm of Allianz SE, and Constellation Wealth Capital, an investment advisory firm specialising in investing in wealth managers.) 

The transaction, which is expected to close early in the second quarter of 2025, remains subject to customary closing conditions. The financial terms were not disclosed.

“A portion of the funding from Allianz X was earmarked for AlTi’s expansion into Germany, reflecting the opportunity within the German wealth management market,” AITi said in a statement late last week. 

AITi has been busy: In April 2024, it bought New York-headquartered East End Advisors, a firm with about $5.6 billion in AuM. In May last year, AITi snapped up Singapore’s AL Wealth Partners, spreading its network to Asia. AITi was born from a merger between US-based Tiedemann Group and London’s Alvarium.

Kontora is a founder-run business established almost two decades ago; it offers services including family office, investment office, and service office solutions. It mainly serves clients in Austria and Germany.  

AITi said it expects Kontora’s co-chief executives Stephan Buchwald and Dr Patrick Maurenbrecher to reinvest a portion of the proceeds into AlTi, and take on senior AITi roles to drive German market growth.

“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,” Michael Tiedemann (pictured below), CEO of AlTi Tiedemann Global, said. “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.”


Michael Tiedemann

WealthBriefing has chronicled the German banking and family offices sector. See articles about the banks that cater to it here and here. See another overview item here.

EY Germany is acting as financial due diligence provider to AlTi in connection with the acquisition and Milbank LLP is acting as legal advisor to AlTi.

Herax Partners LLP and PXR are acting as financial and legal advisors to Kontora, respectively.

To see another example of a Hamburg-based family office – the city has a number of them – click on a story here.