Asset manager DWS has agreed to buy Peakside Capital Advisors outright as it looks to expand its opportunistic real estate business.

Headquartered in Zug, Switzerland, Peakside specialises in value-add and opportunistic investments in Germany as well as Central and Eastern Europe. It invests across existing real estate, single properties, portfolios, distressed debt and companies.

The firm manages more than €1.7bn (£1.4bn) in assets, mainly on behalf of institutional investors, across office, retail, logistics and residential property.

DWS said the deal would broaden its European real estate offering, particularly in Germany, while adding capabilities in Central and Eastern Europe.

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“The acquisition of Peakside is an important step in strengthening our alternatives platform,” said Stefan Hoops, chief executive of DWS.

DWS is buying Peakside from shareholders led by its founders and managing partners, Stefan Aumann and Boris Schran.

Aumann, Schran and fellow owner Simon Lutz will stay with the business after the deal completes, alongside senior managers Frank Schäfer and Karol Maziukiewicz. DWS said they would help develop the business from within the group.

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“By combining our investment expertise with DWS’ client relationships, distribution capabilities and global platform, we see significant opportunities to further develop the business and the solutions we provide to investors,” said Aumann, founder and managing partner of Peakside.

“We look forward to continuing to develop the business as part of DWS and to supporting its next phase of growth.”

The deal is expected to close by the end of 2026, subject to regulatory approvals. Financial terms were not disclosed.

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