HTB Group

What HTB Group does

HTB Hanseatische Fondshaus GmbH (operating as HTB Group) is a bank-independent, BaFin-regulated capital management company (Kapitalverwaltungsgesellschaft) headquartered in Bremen, Germany, founded in 1987. The firm specializes in closed alternative investment funds (AIFs) under the German Capital Investment Code (KAGB), with a focus on real estate secondary market portfolios (Immobilien-Zweitmarktfonds) that invest indirectly into diversified pools of underlying German real estate target funds. Its core numbered product line includes HTB 10, HTB 12, HTB 14 (fully invested by June 2026), and the newly launched HTB 15 (December 2025, planned volume EUR 20M expandable to EUR 30M). HTB also operates a Service-KVG platform providing regulated fund initiation, prospectus support, and ongoing operations to third-party AIF sponsors, exemplified by the DNL Prime Invest I mandate that acquired the Catalyst Business Park in Alabama, USA.

The company's core technology is a proprietary valuation database covering more than 25 years of historical data on over 1,100 German real estate funds with economic indicators, enabling digital-supported forecasting of fund performance and acquisition factors (e.g., the 11.6x average JNKM achieved in HTB 14). Products are structured as closed-end AIFs with minimum investments starting at EUR 10,000 plus a 5% issuance surcharge, targeting retail, professional, and institutional investors. Distribution is sales-led, executed through a German partner portal, a distribution partner network, and direct sales led by Sales Director Lars Harbig.

HTB Group earns revenue primarily through recurring AIF management fees on its proprietary fund series and fee-based Service-KVG mandates. The firm reports more than 8,000 investors across its platform and supplements proprietary AIFs with secondary market liquidity, portfolio rebalancing, and active asset management. Operational scale is modest (11-50 employees), with a four-person Geschäftsführung team (Claus Burghardt, Jörg-Karsten Hagen, Alexander Lang, Boris Nicoley) and a three-member supervisory board chaired by Dr. Wolfgang Wiesmann. HTB operates as a private, non-listed GmbH and is subject to ongoing BaFin supervision, EU SFDR disclosure obligations, GDPR, and KAGB conflict-of-interest requirements.

Name

HTB Group

Legal name

HTB Hanseatische Fondshaus GmbH

Website

https://htb-fondshaus.de

Company type

Private

Founded year

1987

Operating status

Operating

Headcount range

11–50 employees

Short description

HTB Group is a BaFin-regulated, bank-independent German capital management company headquartered in Bremen that manages closed real estate secondary market AIFs and offers Service-KVG services, serving more than 8,000 retail, professional, and institutional investors with proprietary data-driven fund products.

Ownership category

akta.pro rank

Product category

Alternative Investment Fund Management

NAICS

Portfolio Management and Investment Advice (523940), Funds, Trusts, and Other Financial Vehicles (525)

SIC

Investment Advice (6282), Real Estate Agents & Managers (For Others) (6531)

akta.pro primary industry

Discretionary Portfolio Management (DPM) (FSAAABAC)

akta.pro secondary industry

Real Assets — Real Estate Debt (Whole Loans, Mezzanine, CMBS/CLO) (FSAHAIAB)

Keywords

• Alternative investment funds
• Real estate asset management
• Immobilien zweitmarkt
• Capital management services
• Closed-end real estate funds

Headquarters

HQ city

Bremen

HQ country

Germany

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. AIF Management Fees: Revenue generated from managing closed alternative investment funds (AIFs) as a regulated capital management company (KVG) under KAGB supervision

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

HTB Group is a BaFin-regulated capital management company (KVG) that structures, launches and manages closed-end Alternative Investment Funds (AIFs) under KAGB supervision, with a core focus on German real estate secondary market portfolios that enable investors to gain diversified indirect exposure to target funds. The company also operates Service-KVG services for third-party fund initiators and offers strategic commercial real estate funds.

Product overview

HTB Group operates a unified platform of closed real estate secondary market funds (Immobilien-Zweitmarktfonds) managed under KAGB regulation. The core product line includes numbered fund generations (HTB 12, 14, 15) that invest indirectly in diversified portfolios of German real estate target funds. HTB also manages first-market commercial real estate funds (Strategische Handelsimmobilie Plus series) and serves as Service-KVG for third-party initiators like DNL. The company leverages a proprietary 20+ year valuation database to identify attractive secondary market opportunities, targeting stable returns through diversified property exposure across office, retail, residential, care, and hotel sectors.

Differentiator

Problem solved

Functional benefit

Products and services

• HTB 15 Immobilien Zweitmarktportfolio A closed real estate secondary market fund (Geschlossene GmbH & Co. InvKG) launched in December 2025 enabling investors to indirectly participate in approximately 50 German real estate target funds. Planned fund volume of EUR 20 million (option to increase to EUR 30 million), minimum investment of EUR 10,000 plus 5% issuance surcharge, projected total return of 165.3% before taxes, and 3% p.a. pre-interest until 31.12.2027. Tax classification as capital income with 60% partial exemption.
• HTB 14 Geschlossene Immobilieninvestment Portfolio A closed real estate secondary market fund that reached full investment in June 2026. Invested approximately EUR 27.7 million in 80 target funds containing 113 properties, with an average occupancy rate of 99% and an acquisition factor of 11.6x annual net cold rent (JNKM). Total fund volume increased from EUR 20 million to EUR 30 million due to strong demand.
• HTB 12 Geschlossene Immobilieninvestment Portfolio A closed real estate secondary market fund that completed full investment in November 2024 with EUR 26.1 million in equity capital. Acquired 71 target funds with 139 properties totaling approximately 1.7 million square meters of rental space across office, retail, residential, care, and hotel sectors.
• DNL Prime Invest I A closed alternative public investment fund (geschlossener alternativer Publikumsfonds) for which HTB serves as Service-KVG, initiated by DNL Exclusive Opportunity GmbH & Co. KG. Invests indirectly in US commercial real estate, specifically the Catalyst Business Park in Madison (Huntsville), Alabama, with approximately 340 investors.
• HTB Strategische Handelsimmobilie Plus Nr. 4 (SHP 4) A strategic commercial real estate fund (first-market direct property) that successfully divested its sole property asset 'Alte Spinnerei' in Bayreuth, delivering approximately 200% total distributions to investors after about 6 years of operation.
• Service-Kapitalverwaltungsgesellschaft (Service-KVG) A regulated capital management company service (Service-KVG) under KAGB that supports third-party fund initiators with prospectus creation and ongoing AIF operations. HTB currently serves as Service-KVG for multiple alternative investment funds including DNL Prime Invest I, with additional capacity added through the 2020 acquisition of WI Kapitalverwaltungsgesellschaft.

Quantifiable outcome

• 98-99% average occupancy rate across portfolios
• +4 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Four partnerships are on record, tiered core and minor.

• Glenfield CapitalcoreStrategic or Co-development Partner · 1 December 2022US project partner for DNL Prime Invest I fund, supporting the acquisition of US commercial real estate assets including the Catalyst Business Park in Madison (Huntsville), Alabama, USA
• DNL Exclusive Opportunity GmbH & Co. KGcoreStrategic or Co-development Partner · 1 January 2022Initiator of DNL Prime Invest I fund for which HTB serves as Service-KVG, investing in commercial real estate in the southeastern USA
• WI Kapitalverwaltungsgesellschaft mbH & Co. KGcoreStrategic or Co-development Partner · 1 January 2020Acquired by HTB Group (subject to BaFin approval), with its managing directors Dr. Peter Lesniczak and Andreas Gollan joining HTB management
• NoerrminorImplementation/ SI/ Consulting PartnerLegal counsel (Frankfurt office) advising HTB on the sale of the 'Alte Spinnerei' property in Bayreuth

Scale indicators10 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Wealthcap: Munich-based real estate fund manager and UniCredit subsidiary offering closed-end real estate AIFs to retail and institutional investors. Comparable because both compete in the KAGB-regulated closed-end German real estate fund segment.
• HGA Capital Grundbesitz und Anlage GmbH: Hamburg-based real estate asset manager (formerly linked to HSH Nordbank) cited in HTB management biographies. Comparable because both manage German real estate portfolios and serve institutional and private investor segments.
• KGAL GmbH & Co. KG: Munich-area alternative investment manager running regulated real estate, infrastructure and aviation AIFs under KAGB. Comparable because both operate a German KVG serving retail and institutional investors with closed-end alternative funds.
• Real I.S. AG: Munich-based real estate fund manager within the BayernLB/Sparkassen group, managing open- and closed-end German real estate funds. Comparable because both run KAGB-regulated real estate AIFs for German retail and institutional distribution.
• PATRIZIA SE: Augsburg-headquartered, publicly listed European real estate investment manager running regulated AIFs and separate accounts for institutional and retail investors. Closely comparable as a German KVG operating across the same KAGB framework and investor channels.
• ZBI Zentral Boden Immobilien AG & Co. KG: Erlangen-based residential real estate fund manager running closed-end AIFs under KAGB. Comparable because both are German KVGs operating closed-end real estate funds distributed through similar retail/institutional channels.
• KanAm Grund Kapitalverwaltungsgesellschaft mbH: Frankfurt-based real estate fund manager offering open- and closed-end German real estate funds under KAGB. Comparable because both manage regulated real estate AIFs for retail and institutional investors in Germany.
• DFH Deutsche Fonds Holding GmbH: Stuttgart-based German real estate fund manager cited in HTB management biographies. Comparable because both operate as German KVGs running closed-end real estate funds distributed to retail and institutional investors.

Broad incumbents

• Union Investment Real Estate GmbH: Hamburg-based real estate asset manager within Union Investment Group, with large open-end real estate funds and institutional mandates. Comparable as a major German KVG targeting overlapping retail and institutional investor segments.
• Commerz Real AG: Wiesbaden-based, Commerzbank-owned real estate and infrastructure manager running open- and closed-end real estate funds. Comparable as a large incumbent offering competing KAGB-regulated real estate AIFs to German investors.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/htb-fondshaus

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries2 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 HTB Group