Liechtenstein-based private banking and asset management group LGT has agreed to acquire a minority stake in Germany based- digital wealth manager Liqid, subject to regulatory approvals.
The firm did not disclose financial terms of the deal.
The transaction will see LGT contribute to the development of the German firm’s investments strategy for its wealth offering.
Liqid was set up in 2016 to provide affluent private investors access to professional wealth management investment solutions and to private equity, venture capital and real estate opportunity via its platform.
Its services are available to private investors with at least €100,000 (£85,820, $118,250) ready to be invested. In early 2021, the wealth firm’s assets reached €1bn making it one of Germany’s largest digital wealth managers.
Christian Schneider-Sickert, chief executive and founder of Liqid, said: “We are delighted that LGT is now part of our group of investors. Our ambition is to provide discerning private investors with unique access to outstanding investment solutions that were previously unavailable to them.
“LGT is not only a benchmark in private banking and asset management, but also an established investor in growth companies. With its focus on sustainability and entrepreneurship, LGT ideally complements our ambitions and values. Together with LGT, I look forward to developing Liqid into Europe’s leading provider of digital private banking.”
Prince Max von und zu Liechtenstein, chairman of LGT, added: “Liqid has an impressive track record of growth, and we are convinced that the provision of professional investment expertise in a digital format – in combination with Liqid’s dedicated client focus and commitment to quality – constitute a promising business model.
“We are delighted to be supporting Liqid in its ongoing expansion and also expect this to provide impetus for the further digitalisation of our own services. The collaboration with Liqid will enable a broader segment of private investors in Germany to access LGT’s investment expertise.”