GERMANY – Klaus Kirschenhofer, the former investment management head at Siemens, has been appointed managing director of a new asset management outfit for the billionaire Harald Quandt family (corrected).

Kirschenhofer told IPE that HQ Trust GmbH – established this month - is “a full-service asset management company for ultra-high net worth individuals and institutions looking for asset management in all asset classes with a strong bias in alternatives”.

The alternative investment portfolio consists of investments in hedge funds, private equity and real estate.

Kirschenhofer’s new responsibilities cover, amongst others, all investment processes and client services. HQ Trust also combines Kirschenhofer’s widespread institutional and asset management knowledge with the infrastructure and investment expertise of the Harald Quandt family.

Kirschenhofer joined HQ Trust because of the “challenge of setting up a new company” and “the professional experience of the Harald Quandt family in alternative investing”.