Milbank advised LGT on the agreement to acquire a strategic minority stake in LIQID. Since the company’s launch in the fall of 2016, LIQID has provided affluent private investors access to professional wealth management investment solutions and to private equity, venture capital and real estate investments through its digital platform. In early 2021, LIQID’s client assets reached the one billion euros mark, making it one of Germany’s largest digital wealth managers. The transaction will be completed as soon as the necessary approvals have been obtained from the supervisory authorities.
As part of the agreement with LIQID, LGT will contribute to the development of the investment strategy for LIQID Wealth clients. The LIQID Wealth offering is available to private investors investing €100.000 or more and offers comprehensive investment strategies in traditional asset classes.
LGT is a leading international private banking and asset management group that has been fully controlled by the Liechtenstein Princely Family for over 90 years. As at 31 December 2020, LGT managed assets of CHF 240.7 billion (US$ 272.4 billion) for wealthy private individuals and institutional clients. LGT employs over 3.800 people who work out of more than 20 locations in Europe, Asia, the Americas and the Middle East.
LIQID is a Berlin-based digital wealth manager focused on affluent private clients. For a fraction of the traditional minimum investment, it offers its clients digital access to investment strategies and opportunities previously available only to high-net-worth and institutional investors. In addition to tailored wealth management from €100.000, this includes professionally curated portfolios of top quartile private equity, venture capital and real estate funds from €200.000. For the last three years, the company has been named Germany’s best wealth manager by the country’s leading business monthly, Capital. As of July 2021, LIQID manages in excess of €1.4 billion (US$ 1.7 billion) for its clients. The company is backed by investors including LGT, Toscafund Asset Management, HQ Trust, Project A and Dieter von Holtzbrinck Ventures.
Milbank advised LGT on the corporate, M&A and financing aspects of the transaction. The Milbank team was led by partner Martin Erhardt and included partner Peter Nussbaum, special counsels Michael Pujol (Corporate/M&A, Munich) and Merih Altay (Corporate/M&A, London) as well as the associates Johannes Rogge-Balleer, Josef Wittmann (both Corporate/M&A, Munich), Andreas Rief (Corporate/M&A, Frankfurt) and Odilo Wallner (Finance, Frankfurt).
