GENEVA, NEW YORK, PARIS, March 1, 2012 /PRNewswire-Asia/ --
Union Bancaire Privee, UBP SA ("UBP"), one of Switzerland's leading
and best-capitalised private banks and a leader in the hedge fund
industry, announced today that it has signed a definitive agreement
to acquire Nexar Capital Group ("Nexar"), a global alternative
investment manager.
The combined UBP-Nexar alternative investment group will boast a
broader platform, established global distribution capabilities and
innovative solutions in the alternatives space. It will have
offices in Geneva, New York, London, Paris, Jersey, Tokyo and Hong
Kong and form a new division reporting to UBP's Chief Executive
Officer Guy de Picciotto.
In acquiring Nexar, UBP is demonstrating its ongoing commitment to
the alternative investment industry and delivering market-leading
investment and advisory services to investors globally. UBP
strongly believes in the important role of funds of hedge funds in
meeting each client's objectives with respect to dynamic and
performing portfolios, which incorporate a proven combination of
active portfolio management, rigorous risk management and
interactive investor services.
Clients worldwide will benefit from the combined UBP-Nexar
alternative investment group's experienced leadership team,
entrepreneurial spirit and long-term approach, together with UBP's
robust balance sheet and interest in deploying capital to launch
innovative products.
UBP has been a pioneer in the alternative investment industry since
the 1970s and launched its first fund of hedge funds in 1986. Over
the years, it has built up a strong hedge fund advisory service and
runs several pooled funds as well as mandates tailored to
individual clients' requirements. Founded in 2009 by industry
veterans Arie Assayag (Global CEO), Eric Attias (Global CIO) and
Bernard Kalfon (Head of Volatility Strategies), Nexar specialises
in creating forward-looking, actively managed investment solutions
to meet clients' objectives. The Nexar senior team has an average
of more than 20 years of experience in portfolio management and
proprietary trading and has worked together as a global team for
more than 10 years.
The deal, the terms of which were not disclosed, is subject to the
requisite regulatory approvals.
About Union Bancaire Privee, UBP SA
UBP is a leading private bank in Switzerland and is one of the
country's best-capitalised banks, with a Tier 1 ratio of more than
22%. The Bank specialises in wealth management for both private and
institutional clients. It is based in Geneva and employs 1,500
staff in some twenty locations worldwide. The Bank had CHF 72
billion (USD 77 billion) in assets under management as at 31
December 2011.
http://www.ubp.com
About Nexar Capital Group
Nexar Capital Group is a global alternative investment manager with
offices in New York, Paris, London and Jersey. The firm specialises
in engineering alpha to meet investors' objectives through active
portfolio management in a variety of innovative solutions. Nexar
manages funds of hedge funds and volatility strategies, as well as
overlay and customised portfolio solutions. Nexar's subsidiaries
include AAAm (formerly Allianz Alternative Asset Management) and
Ermitage Limited. Nexar Capital Group had approximately USD 3
billion in assets under management as at 31 December 2011.
http://www.nexarcapital.com
Contact:
Jerome Koechlin - Head of Communications, Union Bancaire
Privee
Phone: +41-58-819-26-40
E-Mail: [email protected]
Tripp Kyle - New York correspondent, Brunswick Group
Phone: +1-212-333-3810
E-Mail: [email protected]
Linkedin - http://www.linkedin.com/company/ubp
RSS - http://www.ubp.com/cms/lang/en/template/feed.jsp
SOURCE﹛UBP - Union Bancaire Privee