Hartz, Regehr & Partner

Hartz, Regehr & Partner

Hartz, Regehr & Partner was founded in Munich in 1988, deliberately positioned as a bank-independent asset manager at a time when most German wealth management ran through the country's savings and cooperative banking networks. The firm targets large private fortunes, typically multi-generational family wealth originating in the German Mittelstand or professional services sectors. Founding partners structured the firm to avoid balance-sheet conflicts — it earns fees only from advisory and discretionary mandates, not product manufacturing or distribution commissions. The firm's investment posture spans public equities, fixed income, private equity funds, and direct real estate, with an emphasis on capital preservation and inflation-aware asset selection. Public-equity mandates tend to favor concentrated, value-oriented portfolios over broad index replication. In private markets, Hartz, Regehr & Partner acts primarily as a limited partner in European and US buyout and growth funds, selectively co-investing where family balance sheets can absorb larger, long-duration positions. Currency risk management receives substantial attention — the firm routinely hedges dollar-denominated exposures back to euro, reflecting the predominantly euro-denominated liability profiles of its client families. The geographic focus tilts toward the DACH region, the broader eurozone, and select US opportunities. The partnership operates a lean structure — a small, senior team of portfolio managers and in-house legal and tax specialists, with external custody and administration outsourced to German financial institutions. The firm does not disclose assets under management or a precise professional headcount, consistent with a culture of strict client confidentiality. Philanthropic advisory services, including the structuring of family foundations under German foundation law, are offered as an integrated component of wealth planning, though the firm maintains no proprietary foundation vehicle named in public record. Structurally, Hartz, Regehr & Partner remains a pure partnership without an affiliated bank, custodian, or fund platform — an increasingly rare posture among German wealth managers, where consolidation has pushed many independents into the arms of larger financial groups. This architecture gives the firm a governance edge: clients sit directly across from the partners making allocation decisions, with no product shelf, asset-gathering targets, or institutional parent shaping the menu of available investments.