History

KGAL was founded under company law in Hamburg in 1968 as a joint investment venture by the present-day Hamburger Sparkasse and the entrepreneur Karl Kreusel. Since then the KGAL Group has grown through new partnerships and has extended the range of its business divisions. The result is that one of Germany’s leading real estate leasing companies developed into one of the most successful initiators of limited partnership funds.

1968

Foundation of KGAL

KGAL is established under community law on 27 August 1968 in Hamburg as a joint investment venture by Neue Sparcasse von 1864 (today's Hamburger Sparkasse), and the entrepreneur Karl Kreusel.

1969

Dresdner Bank becomes a new partner

KGAL expands its partnership base with its first major bank, Dresdner Bank, joining as a partner in 1969.

1970

Rise to a leading real estate leasing company

Karl Kreusel & Co. Vermögensverwaltung is finally integrated into KGAL in 1970, making KGAL one of the leading real estate leasing companies in Germany.

1973

Bayern LB becomes new partner

In 1973, the partnership base expands once more, with Bayern LB becoming a partner in KGAL.

1977

Pioneer in power plant leasing and operator model for a gas pipeline

KGAL takes over its first leasing of a power plant. In 1977 KGAL also develops its first operator model for a gas pipeline.

1977/78

Relocation to Munich

KGAL transfers its head office to Munich. Sales offices are opened all over Germany for business partnerships in real estate leasing.

1979

First aircraft leasing fund in Germany

In 1979 KGAL designs an aircraft leasing fund, the first in Germany.

1981

Relocation to Grünwald

KGAL relocates from Munich to nearby Grünwald. Hypo-Bank, West LB, Allianz and Siemens each hold minority interests for a time.

1983

First real estate fund model

KGAL adds a new product to its portfolio: the first fund model for real estate.

1994

Establishment of FAL

In 1994 Fondsverwaltungsgesellschaft Allgemeine Leasing (FAL) is set up as an initiator of retail funds and private placements.

1999

FAL renamed ALCAS

In 1999 FAL is renamed ALCAS GmbH, a KGAL subsidiary. It provided services within the scope of raising equity for limited partnership funds.

2000

New real estate platform solution

KGAL devises the first real estate platform solution for optimised spin-offs from existing real estate portfolios.

2001

First operational aircraft fund and novel leasing concept for car and truck fleets

KGAL launches its first operational aircraft fund. In the same year, KGAL takes over the first IFRS-compliant leasing for car and truck fleets.

2002

Sal. Oppenheim becomes a new partner

KGAL expands its partnership base to include the Sal. Oppenheim bank.

2003

First operational ship fund

KGAL extends its investment portfolio, devising its first operational ship fund in 2003.

2004

First private equity fund

KGAL opens up a new line of business and designs its first private equity fund in 2004.

2005

First infrastructure fund

KGAL augments its asset competence, devising its first infrastructure fund in 2005.

2006

Integration of ALCAS into KGAL

ALCAS integrates into KGAL. From this time on, KGAL initiates its own limited partnership funds.

2008

40th anniversary

In 2008 KGAL celebrates its 40th anniversary. Over the years it has continually expanded its product portfolio.

2008

First forest fund

KGAL enlarges its portfolio of alternative investments and launches its first forest fund in 2008.

2009

Commerzbank becomes a new partner

Change at the partnership level: after taking over Dresdner Bank, Commerzbank becomes the largest partner in KGAL.

KGAL mission statement

Where do we stand and where are we heading? KGAL’s mission statement provides answers to these questions. The mission statement is based on KGAL's considerable achievements in over four decades. It is oriented to what the company has done successfully so far and formulates perspectives to ensure KGAL’s leading position in the future as well.

The mission statement focuses on four areas that fundamentally shape the KGAL brand and its orientation: quality leadership, loyalty, sustainability and straightforwardness.