AUGSBURG, GERMANY—Patrizia Immobilien AG said Tuesday it had acquired UK-based Rockspring Property Investment Managers LLP. Deal terms were not disclosed; however, Rockspring had approximately €7.9 billion (US$9.3 billion) in funds under management as of this past Sept. 30.

For Patrizia, the addition of Rockspring will increase its assets under management to approximately €40 billion (US$47.4 billion). It follows the investment manager's recent acquisitions of TRIUVA this past October and Sparinvest Property Investors in November.

“Rockspring has an outstanding track record and reputation for European property fund management and client services and is a perfect fit for Patrizia in terms of shared vision and culture and its focus on real estate business,” says Patrizia CEO Wolfgang Egger. “This acquisition represents an important milestone for Patrizia in achieving our vision to become a global provider of European real estate assets for our clients.”