Fosun International successfully exited its investment in Hauck & Aufhäuser, tripling its value from €210 million to €672 million, achieving a 14% internal rate of return.

Target Information

Fosun International has successfully exited its investment in the historic German private bank Hauck & Aufhäuser (H&A) in 2025. Initially acquired in 2016 for €210 million, the bank has been sold for approximately €672 million, reflecting a tripling of its value during Fosun's ownership. This transaction generated an impressive internal rate of return (IRR) of up to 14%. Fosun has also retained the management of its asset management business with over €100 billion in assets under management.

H&A is a well-established German independent private bank with a rich history spanning 220 years. The bank's operations include private banking, asset management, and financial market services, with a particular focus on serving clients in Germany's technology and education sectors as well as small to medium-sized enterprises. By 2014, H&A was managing more than €35 billion in assets and exhibited robust financial performance, making it a prime target for Fosun’s investment strategy.

Industry Overview in Germany

The German financial services sector has recovered significantly following the global financial crisis, with private banking becoming an attractive segment for investment. German banks are known for their stable cash flows and a strong base of h