GERMANY – Swiss investment consultant Complementa has acquired Munich-based FondsConsult, its partner in a German consulting venture launched three years ago.

As a result of the deal, for which no financial details were disclosed, FondsConsult will be renamed Complementa Investment-Controlling AG.

“After our very positive experiences over the past three years, we have decided to expand in the German market under our own brand,” said Complementa chief operating officer Michael Brandenburger.

Started by Joachim Meyer and Rüdiger Sälze in 1993, FondsConsult ranks among Germany’s second-tier investment consultants. It advises on institutional assets in the single-digit billions of euros.

It made a splash in the German institutional market last June by winning a mandate to advise energy firm Energie Baden-Württemberg on a revamp of €3.8bn in invested assets.

Complementa advises hundreds of Swiss institutional clients, most of which are pension funds.

Its German strategy is in sharp contrast with that of Swiss rival PPCmetrics, which last September dissolved its German joint venture with GSC following a disagreement on strategy and services.