GENEVA, NEW YORK, PARIS, Feb. 29, 2012 /CNW/ - 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.
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.
Source: UBP - Union Bancaire Privée
SOURCE Union Bancaire Privee
For further information:
Jerome Koechlin - Head of Communications, Union Bancaire Privee
Tripp Kyle - New York correspondent, Brunswick Group
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