Patrizia Immobilien has acquired Copenhagen-based real estate fund of funds Sparinvest Property Investors.
Founded in 2005, SPI has about €1bn (£895m) of assets under management and manages four real estate funds with equity commitments totalling €1.5bn.
It has funds invested across Europe, Asia and the Americas.
SPI will become a fully owned subsidiary of the Patrizia Group, but will retain full autonomy over its investment decisions.
Wolfgang Egger, chief executive of Patrizia, said: “This acquisition is a demonstration of our ambition to expand through inorganic growth. SPI is a perfect fit for Patrizia, enabling our investors to tap into a new product line and new markets.
“In addition, we are working on a number of initiatives.”
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