# AM Alpha

AM Alpha is a Multi Family Office based in Munich, Germany.

## Overview

- **Organization type:** Multi Family Office
- **Headquarters:** Munich, Germany
- **Region:** Europe
- **Address:** Munich, Germany
- **Founded:** 2006
- **Assets under management:** 3.5B (Altss estimate)
- **Website:** amalpha.de
- **LinkedIn:** https://www.linkedin.com/company/am-alpha/

## Regulatory record

- **Reports private funds:** No

## About

AM Alpha was established in 2006 by principals tied to a German entrepreneurial family. Martin Lemke serves as chief executive. The firm operates from Munich with additional presence across multiple markets. Investment activity centers on core, core-plus and value-add real estate. Allocations span office buildings, retail parks, residential portfolios and logistics assets. Confirmed holdings include the Rylands Building in Manchester, BPlanet retail park in Lisbon, Alpha Prime Kameido in Tokyo, Sintra Retail Park in Portugal, Northside Shopping Centre in Dublin, Moxy by Marriott hotel in Lille and Îlot B in Bordeaux. Geographic reach covers Europe, Japan, Australia and Singapore. Co-investments occur alongside other European family offices and counterparties such as Mitsui & Co. The firm employs local professionals in at least five countries. Recent appointments include Les Koltai as Head of Australia and Caroline Dellasega as Vice President of Investor Relations in Singapore, both announced in May 2024. In July 2024 the firm sold Alpha Prime Toyocho in Tokyo to a fund managed by Mitsui & Co. Adjacent vehicles or philanthropic structures are not publicly detailed. AM Alpha maintains a direct-ownership model rather than fund commitments. Local teams source and manage assets without reliance on external managers for core holdings. This structure allows aligned co-investments with other family offices while retaining operational control over European and Asia-Pacific properties.

## Sectors

- Real Estate
- PropTech
- ClimateTech

## Offices

- London
- Paris
- Singapore
- Tokyo
- Sydney
- Manchester
- Luxembourg

## People

- Martin Lemke — Chief Executive Officer
- Wolfgang Egger — Principal
- Les Koltai — Head of Australia
- Caroline Dellasega — Vice President of Investor Relations
- Rafael Macia — Head of Iberia
- Masatomo Okamoto — Head of Japan
- Etienne Marcot — Head of France

## Questions

### Who runs investment decisions at AM Alpha?

Martin Lemke serves as chief executive and oversees investment decisions. Local heads in Iberia, Japan, France and Australia execute regional acquisitions and asset management.

### How does AM Alpha source proprietary deal flow?

On-the-ground teams in London, Tokyo, Sydney and Singapore identify opportunities directly. Co-investments with other European family offices supplement sourcing.

### Does AM Alpha participate in fund commitments or only direct deals?

The firm executes direct acquisitions and holds assets for its own account. It does not commit to external real-estate funds.

### What investment stages does AM Alpha typically target?

Core, core-plus and value-add strategies predominate. The firm avoids development and distressed situations.

### What is AM Alpha's known posture on co-investments alongside external GPs?

The firm pursues aligned co-investments with other European family offices. It retains operational control rather than passive participation.

### Which sectors does AM Alpha explicitly avoid?

The firm does not invest in venture capital, hedge funds, private equity, infrastructure or digital assets. Focus remains strictly on direct real-estate ownership.

## Related profiles

- [Keepers SAS](https://altss.com/profile/keepers-sas)
- [Hersh Family Investments](https://altss.com/profile/hersh-family-investments)

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Last updated: 2026-08-10T16:07:01.704Z

Canonical page: https://altss.com/profile/am-alpha

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