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Talanx, NORD/LB, Lampe to Cooperate on Alternative Assets

Talanx AG (TLX), Germany's third-biggest insurer, is buying a stake in an alternative assets manager as it seeks to shift investments amid declining yields.

lt acquired a 45 percent stake in Caplantic Alternative Assets for less than 10 million euros ($12 million), the Hanover, Germany-based insurer said in a statement Tuesday. State-owned lender Norddeutsche Landesbank owns 45 percent of the firm, and private bank Bankhaus Lampe owns the remaining 10 percent. Caplantic was established in 2013 as a joint venture between NORD/LB and Bankhaus Lampe.

"In view of the low interest rates currently prevailing, the owners are anticipating an increasing shift in investment toward alternative asset classes such as real estate, private equity and infrastructure investments," Talanx said, adding that it expects "significant growth in these areas."

Talanx had 90 percent of its 94.1 billion euros of investments in fixed income at the end of the third quarter last year. Chief Financial Officer Immo Querner said in an interview last year that by 2020 the company will still have the majority of its investments in fixed income, while the future asset mix "will be better diversified into other currencies and more illiquid assets such as infrastructure and loans."

Source: Bloomberg Business News