First Private

What First Private does

First Private Investment Management is a Frankfurt-based, independently and partner-owned investment boutique that has operated continuously since 1991 (originally as Salomon Brothers Asset-Management KAG mbH and rebranded in 2003 following a management buyout). The firm offers actively managed funds and mandates across European equities, global equities, multi-strategy/multi-asset, liquid alternatives (merger arbitrage, commodities), and renewable energy infrastructure, with all public funds structured as UCITS-compliant vehicles. Underlying all strategies is a proprietary 'Alpha Factory' data infrastructure covering approximately 40,000 companies, 25 commodities, and 50+ currencies with up to 25 years of history, on which a combination of quantitative systematic processes and fundamental analysis is run, increasingly augmented by AI/ML methods (notably in the Systematic Merger Opportunities and Quantum strategies). Distribution is hybrid: a direct institutional sales force targets pension funds, insurance companies, banks, foundations, and family offices, while retail access is delivered through German private banks, cooperative banks (Genossenschaftsbanken), and Sparkassen (savings banks); institutional share classes carry a EUR 1,000,000 minimum, management fees of 0.5-1.5%, and performance fees typically 10% above benchmark. Ownership rests entirely with senior partners via FP Management Holding GmbH, with no external private equity, VC, or public listing evidenced.

Name

First Private

Legal name

First Private Investment Management KAG mbH

Website

https://first-private.de

Company type

Private

Founded year

1991

Operating status

Operating

Headcount range

11–50 employees

Short description

First Private is a Frankfurt-based, partner-owned investment boutique offering actively managed equity, multi-strategy, liquid alternatives, and renewable infrastructure funds to institutional and retail clients across German-speaking Europe, built on a proprietary quantitative data infrastructure.

Ownership category

akta.pro rank

Product category

Asset Management

NAICS

Portfolio Management and Investment Advice (523940), Other Investment Pools and Funds (5259)

SIC

Investment Advice (6282)

akta.pro primary industry

Alternative Investments for Private Wealth (Hedge Funds, PE/VC Access, Private Credit) (FSAAABAI)

akta.pro secondary industries

Affluent / Mass-Affluent Private Banking (FSABADAC), Private Markets Fund of Funds (PE / VC / Private Credit FoF) (FSAHAKAF)

Keywords

• Active asset management
• Systematic equity funds
• Multi-strategy investing
• Merger arbitrage strategies
• Absolute return funds

Headquarters

HQ city

Frankfurt

HQ country

Germany

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Management Fees: Ongoing fees charged based on assets under management across the fund range
2. Performance Fees: Typically 10% above benchmark returns, charged when fund performance exceeds specified hurdles

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels5 records

Core offering

First Private is an independent, owner-managed German investment boutique providing active, systematic asset management across equity, multi-strategy, liquid alternative, and infrastructure funds. The firm combines quantitative algorithms with fundamental analysis through its proprietary Alpha Factory data infrastructure to deliver institutional-grade investment solutions. It serves institutional investors (pension funds, insurance companies, banks, foundations, family offices) directly and reaches retail investors through distribution partnerships with private banks, cooperative banks, and Sparkassen in German-speaking markets.

Product overview

First Private Investment Management is an independent, owner-operated investment boutique offering a comprehensive suite of actively managed funds across multiple asset classes and strategies. The product portfolio includes: (1) Multi-Strategy/Multi-Asset Funds (First Private Wealth, First Private Quantum, FP MULTI STRATEGY) combining traditional assets with alternative investments; (2) Liquid Alternative Funds (First Private Systematic Merger Opportunities, First Private Systematic Commodity) for uncorrelated returns; (3) Equity Funds (First Private Euro Dividenden STAUFER, First Private Europa Aktien ULM, First Private Aktien Global) using fundamental-quantitative stock selection; (4) Infrastructure Funds (RE Infrastructure Opportunities, First Private Wind Infrastructure I, First Private Solar Infrastructure I, FP Lux Energy Transition Fund) for renewable energy investments; and (5) the FP Investment Partners multi-boutique platform for institutional access to specialized managers. All strategies leverage systematic, science-based investment processes with increasing integration of AI/ML capabilities.

Differentiator

Problem solved

Functional benefit

Products and services

• First Private Wealth Active, broadly diversified multi-strategy fund targeting returns across market phases while reducing dependence on bonds and equities. Invests in traditional asset classes combined with low-correlation alternatives such as commodities and market-independent alpha strategies.
• First Private Quantum Dynamic, diversified multi-asset/strategy fund combining human expertise with AI methods to achieve equity-like returns with lower drawdowns. Uses the Triple-A Principle with three return sources: stock selection, allocation control, and alpha strategies.
• First Private Systematic Merger Opportunities Market-neutral fund positioning globally in stocks involved in corporate acquisitions and mergers, using AI-based quantitative methods to recognize patterns in M&A transactions from a database of over 20,000 deals.
• First Private Euro Dividenden STAUFER Fully invested European equity fund pursuing an active, benchmark-independent approach focused on sustainable dividend yields. Invests in the most promising 40-60 dividend-strongest and most stable stocks in the Eurozone.
• First Private Europa Aktien ULM Active European equity fund using fundamental-quantitative selection based on valuation, earnings growth, balance sheet quality, and price momentum. Targets significant outperformance versus European equity indices.
• First Private Aktien Global Fully invested, globally diversified equity fund following a value-oriented approach. Uses a multi-stage quantitative process with three sub-strategies (VALUE, GROWTH, QUALITY) and invests across 50+ countries.
• First Private Systematic Commodity Purely quantitative long/short commodity fund investing in long and short positions across 14 commodities, designed for portfolio diversification with uncorrelated returns.
• FP MULTI STRATEGY Multi-strategy fund combining various alternative investment approaches with traditional asset classes, offering diversification across strategy types.
• FP Artellium Evolution Alternative investment fund offered through the FP Investment Partners multi-boutique network platform.
• FP Lux Energy Transition Fund EUR 400 million fund investing in solar and wind parks, battery storage, and e-charging infrastructure as an Article 9 fund under SFDR.
• First Private Wind Infrastructure I Special fund for institutional investors investing directly in European wind parks, with Germany as the primary focus country.
• First Private Solar Infrastructure I Master-KAG-capable solar fund with EUR 147 million volume, investing in photovoltaic plants across Europe.
• RE Infrastructure Opportunities Renewable energy infrastructure fund for institutional investors investing in at least three different technologies.
• FP Investment Partners Multi-boutique network providing institutional investors efficient access to leading specialized investment teams in alternative investments, real assets, and next-generation quant investing.
• First Private Helix Fund Equity market neutral strategy for index futures targeting institutional investors with anti-cyclical investments to exploit reversal effects for uncorrelated returns.

Named customers1 record

Segments2 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

AI capability7 records

Feature1 record

Partnerships

Ten partnerships are on record, tiered core and minor.

• NaroIQcoreTechnology or Integration · 1 May 2026Strategic technology partnership for active ETF infrastructure. NaroIQ provides technology solutions supporting First Private's active ETF offerings.
• UBS Investment BankcoreChannel Partner/ Reseller/ Distributor · 1 May 2026Partnership for merger arbitrage index on QIS platform. First Private strategies available through UBS's quantitative investment solutions platform.
• Resonanz CapitalcoreStrategic or Co-development PartnerPartnership for equity market neutral strategy. Collaboration on strategy development and investment processes.
• re:cap global investors agcoreStrategic or Co-development PartnerSubsidiary focusing on renewable energy investments. Deep integration in sustainable investment strategies.
• FP Investment PartnerscoreStrategic or Co-development PartnerMulti-boutique network connecting First Private with other investment boutiques for shared distribution and operational synergies.
• FP Lux Investments S.A.minorStrategic or Co-development PartnerLuxembourg-based investment company supporting UCITS fund structure and cross-border distribution.
• Universal InvestmentcoreOthersFund administration partner providing back-office services including fund accounting, compliance, and reporting.
• Bank of New York MelloncoreOthersCustodian bank providing asset custody services for funds.
• BNY Mellon Asset ServicingcoreOthersAsset servicing partner providing custody and administrative services.
• Eulenburg Family OfficeminorStrategic or Co-development PartnerStrategic partnership with Eulenburg Family Office for wealth management and investment distribution.

Scale indicators2 records

Recent moves9 records

Expansion highlights6 records

Broad incumbents

• BlackRock: Global asset management incumbent with the largest ETF platform (iShares) and growing systematic active strategies. Direct competitor for institutional allocator mandates and increasingly for active ETFs that First Private plans to launch with NaroIQ.
• DWS Group: One of Europe's largest asset managers and former Deutsche Bank subsidiary, headquartered in Frankfurt. Overlaps directly with First Private across active equity, systematic, multi-asset, and ETF product lines, but at vastly greater scale and distribution reach.
• Amundi: Europe's largest asset manager with broad active, passive, and alternative fund offerings. Competes with First Private for German institutional and private banking mandates across equity, multi-asset, and alternatives.

Direct peers

• Metzler Asset Management: Frankfurt-headquartered asset manager affiliated with the Metzler banking group, offering equity, multi-asset, and alternative funds via German and European distribution. Comparable product mix and institutional/private wealth client base, though part of a larger banking group.
• Flossbach von Storch: Cologne-based independent multi-boutique asset manager with multi-asset and equity funds distributed across German private banks and globally. Comparable owner-led structure and broad fund range with institutional and private wealth focus.
• Acatis Investment: Frankfurt-based independent value-oriented investment boutique with a similar mix of equity and alternative UCITS funds distributed via German private banks. Comparable in scale, ownership structure (independent/partnership), and quantitative/fundamental hybrid approach.
• DJE Kapital: German independent asset manager with a long-standing equity and multi-asset fund range, distributed through private banks and Sparkassen. Similar boutique identity, owner-managed structure, and emphasis on fundamental/security-selection-driven investing.
• GANÉ Aktienbank: German independent value-oriented equity boutique with concentrated active strategies and broad third-party distribution. Closely comparable as a small, owner-managed German boutique focused on active equity and absolute return funds.
• Lupus alpha: Frankfurt-based independent boutique offering systematic and fundamental equity, fixed income, and alternative strategies for institutional and intermediary clients. Closely comparable in size, owner-managed structure, and systematic/quantitative orientation.

Others

• Universal Investment: Frankfurt-based fund administration and platform partner for First Private (providing fund accounting and Master-KAG services). Operates its own asset management arm as well, making it both a key operational partner and an adjacent competitor in fund platform services.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles21 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about First Private