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Roth & Sohn
Roth & Sohn was founded in 1966 by Rafael Roth and his father Eisig in Berlin, channeling the family’s restitution-recovered and subsequently expanded...
Roth & Sohn
Roth & Sohn was founded in 1966 by Rafael Roth and his father Eisig in Berlin, channeling the family’s restitution-recovered and subsequently expanded real-estate holdings into a structured investment vehicle. Today the office coordinates governance, treasury, and investments across multiple generations, with Yoram Roth — grandson of Eisig — serving as CEO and principal. The wealth itself traces to iconic Berlin commercial properties assembled and rebuilt over decades. The office pursues an eclectic, conviction-driven strategy that bridges hard assets and operating businesses. Real estate remains the anchor, centered on trophy holdings along Berlin’s Kurfürstendamm and in Mitte — including the Fotografiska Berlin complex at the former Kunsthaus Tacheles, Clärchens Ballhaus, and the Auguststraße 23 commercial building. Beyond property, Roth & Sohn allocates to private equity, direct co-investments, collectibles, and intellectual property, with a geographic reach spanning Europe, North America, and Asia. The family’s holding company, Morgenroth, encompasses the Berlin Hospitality Group, the Fotografiska Museum collection, photography archives, and a vintage collection. Managing Director Stefan P. R. Armonat oversees day-to-day operations and multiple family entities. The office also maintains a residential footprint outside Germany, with properties at 119 Dawes Road in London and Hilltop House in France. Through the Morgenroth Foundation, the family directs philanthropic capital to refugee empowerment in partnership with Be an Angel e.V., while Yoram Roth serves as a Senior Counselor at the American Academy in Berlin and a founding member of the Genossenschaft für urbane Kreativität, the collective behind the Holzmarkt development. The firm’s structural distinctiveness lies in its complete integration of cultural production with asset ownership. Rather than a passive family office allocating to external managers, Roth & Sohn operates hospitality venues, museums, and creative collectives inside the real estate it owns, generating both financial returns and civic influence on a single balance sheet.
General information
Firm type
Single Family Office
Year founded
1966
AUM
Undisclosed
Location
Region
Europe
Country
Germany
City
Berlin
Corporate office
Berlin, Germany
Additional offices
London, United Kingdom
Principals
Yoram Roth
CEO and Principal
Stefan P. R. Armonat
Managing Director
Sector focus
Frequently asked questions
Who runs investment decisions at Roth & Sohn?
Yoram Roth, as CEO and principal, leads the family office’s investment direction, supported by Managing Director Stefan P. R. Armonat. The office was co-founded by Yoram’s father Rafael Roth and grandfather Eisig Roth in 1966, and today operates with a lean, multi-generational governance structure.
How does Roth & Sohn source deals?
The office relies on direct origination through its deep network in Berlin’s real-estate and creative communities, as well as relationships cultivated through vehicles like the Genossenschaft für urbane Kreativität and the American Academy in Berlin. Investments tend to be proprietary, site-specific, or co-investment opportunities where the family can add operational or cultural value alongside capital.
Does Roth & Sohn operate more like a family office or a holding company?
It functions as both. The family office layer (Roth & Sohn GmbH) provides consolidated governance and treasury, while the Morgenroth group acts as the holding company for operating businesses including Berlin Hospitality Group and the Fotografiska museum network. This hybrid structure allows the office to blend passive asset management with active, in-house operations.
What kind of private equity investments does Roth & Sohn make?
The firm targets growth and startup-stage direct investments and co-investments, with confirmed sector focuses in PropTech, Media & Entertainment, Luxury, EdTech, GovTech, and Sports & Wellness. It also holds intellectual property and royalty interests through its media and cultural assets.
Which real estate assets are core to the Roth family portfolio?
Key holdings include Fotografiska Berlin (the former Kunsthaus Tacheles on Oranienburger Strasse), Clärchens Ballhaus on Auguststrasse, and commercial buildings at Kurfürstendamm 178–179 and Friedrichstrasse 112. Residential properties are maintained in London (119 Dawes Road) and France (Hilltop House).
How does the family separate philanthropic activities from investment capital?
The Morgenroth Foundation handles grantmaking, primarily through Be an Angel e.V., which supports refugee empowerment. Yoram Roth’s involvement in Berlin’s civic institutions — as a founding member of the Holzmarkt collective and Senior Counselor at the American Academy — further separates social and cultural engagement from the family’s core investment activities.
What is Roth & Sohn’s posture on co-investments alongside external GPs?
The office participates in direct co-investments and SPVs but does not operate as a fund-of-funds. Capital is evergreen and deployed selectively, favoring situations where the family’s real-estate base, cultural infrastructure, or operational expertise provides an edge beyond a pure financial commitment.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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