Houlihan Lokey Advises Akara Group

Houlihan Lokey is pleased to announce that the shareholders of the Akara Group (Akara), comprising Akara Funds AG, Akara Real Estate Management AG, and Akara Property Development AG and Akara Property Development 1 KmGK, have sold Akara to Swiss Prime Site AG (SPSN), a leading listed real estate company in Switzerland. The transaction closed on January 10, 2022.

Akara was founded in 2016 by Karl Theiler and Jonathan van Gelder and has become a FINMA-regulated fund manager with a focus on residential and commercial real estate. The group includes Akara Real Estate Management AG, which provides real estate services in the areas of development, realisation, property management and marketing, and Akara Property Development AG, which provides management services for a limited partnership for collective investment (KmGK) through a "private equity for real estate" model. The group employs more than 50 specialized real estate professionals, who will all join Swiss Prime Site. The real estate assets under management total approx. CHF 2.3 billion and consist of the "Akara Diversity PK," a real estate fund for tax-exempt pension funds; the private equity product "Akara Property Development 1 KmGK" for qualified investors; and a development pipeline (including Akara Tower, Baden) of over CHF 240 million.

Swiss Prime Site AG is a leading listed real estate company in Switzerland. The market value of its properties amounts to over CHF 12.5 billion, with a portfolio that consists of first-class, stable-value properties that are mostly office and retail spaces. In the real estate business unit, Swiss Prime Site invests in high-quality buildings and land. The services business segment comprises the real-estate-related group companies Swiss Prime Site Solutions, Wincasa, and Jelmoli, a leading omnichannel premium department store in Switzerland.

René Zahnd, CEO of Swiss Prime Site, commented: "We are very pleased to be able to acquire an innovative, dynamic, and at the same time established company with the Akara Group. The fund provider's business model and corporate culture are a perfect fit for Swiss Prime Site Solutions."

Karl Theiler, CEO of Akara, added: "The future affiliation with the Swiss Prime Site Group will enable us to combine our strengths in the funds sector and significantly expand our market position."

Houlihan Lokey served as Akara’s exclusive financial advisor and assisted in initiating, structuring, and negotiating all aspects of the transaction on its behalf. This deal further highlights Houlihan Lokey’s real estate expertise, following other successful transactions involving Engel & Völkers and Flatfox, among others, cementing its leadership position in the real estate sector and strengthening its track record of working with the industry’s most innovative founder-owned businesses.

The two parties have agreed not to disclose the sale price. Closing is expected to take place in mid-January 2022, backdated to 1 January 2022.