LRI Group (LRI) and Augeo Capital Management (Augeo), subsidiaries of Apex Group (Apex), are combining their respective businesses under one single brand, LRI Group.
This integration will see Augeo, formerly Warburg Invest Luxembourg (Warburg Invest), change its name to LRI Capital Management as part of a strategic move by Apex to unite the two management companies (ManCos) under one common brand.
The move to join these two market leading Luxembourg-based investment services companies signifies the start of a second phase in the strategic acquisition by Apex. Consolidating the Augeo and LRI business under one single brand demonstrates the Group’s intention to deliver a united future for the ManCos with a common ownership structure, combined leadership team and united growth strategy.
The alliance of the Augeo and LRI teams under the LRI brand significantly strengthens the firm‘s combined market position as one of the leading third party ManCos in Luxembourg. Uniting the two highly qualified teams, originating from Warburg Invest and LRI Group, delivers a strong collaboration that will take forward the best practices from both businesses and solidify its reputation and position in Luxembourg.
The management board for the newly combined LRI Group will consist of Frank Alexander de Boer, Thomas Grünewald and Utz Schüller who will oversee the management of 200 plus employees in Luxembourg servicing more than EUR 70bn of assets across 540 funds.
The above is subject to regulatory approval.
Frank Alexander de Boer, Managing Director of LRI Group says: “Bringing together these two successful businesses under one brand, LRI Group, will further strengthen our combined market position as a leading provider of third party management services. Both entities are successful in their own right, growing faster than the market itself and fit naturally together through their complementary strengths and client bases.”
Thomas Grünewald, Managing Director, LRI Group says: “As a combined and collaborative group we will be able to leverage our parent company’s global network of offices in addition to our unique access to the European market. This gives LRI Group a powerful edge over other management companies. Our joint service scope and reach will add further value to both our clients and investors.”
Utz Schüller, Managing Director, LRI Group, says: “Through joining these two entities together under one brand we are placed in an excellent position, able to offer clients flexible solutions through an open architecture business model, combining extensive understanding of client requirements and structuring solutions with established working relationships with a broad range of specialist service providers.”
