PATRIZIA Immobilien AG has acquired Rockspring Property Investment Managers LLP, boosting its assets under management to about €40 billion.

The deal, terms of which were not disclosed, provides Rockspring with a London-based fund management hub, the company said in a release.

Rockspring serves more than 120 institutional investors across 20 countries. Its fund brands, including Rockspring TransEuropean, Rockspring PanEuropean and Rockspring Hanover, will continue to operate in their current form following the acquisition.