Investcorp has acquired a minority stake in Banque Pâris Bertrand Sturdza, a private bank in Geneva and Luxembourg. No financial terms were disclosed.
MANAMA, Bahrain, Sept. 5, 2018 /PRNewswire/ — Investcorp, a global provider and manager of alternative investment products, has today announced a strategic minority investment in Banque Pâris Bertrand Sturdza (the “Bank”), an independent, Swiss-regulated private bank based in Geneva and Luxembourg.
The Bank has experienced strong growth since its establishment in Geneva in May 2009, growing its assets under management (AuM) at an average yearly growth rate of 35% to CHF 5.3 billion (US$5.4bn) as of June 2018. The Bank provides independent investment advice and customised investment solutions to over 400 high-net-worth individuals, family offices and institutional clients mainly from Switzerland and Europe. The Bank was recognised in 2017 as the best domestic Swiss Private Bank (WealthBriefing Swiss Awards) and also as the institutional clients Private Bank of the Year in Switzerland (The European Global Banking and Finance Awards). These awards reflected the Bank’s strong performance in 2017 across its businesses in Geneva and Luxembourg, ahead of plans to further expand the Bank’s geographical reach.
The Bank will be renamed “Banque Pâris Bertrand SA” (PB), and will remain operationally independent. With Investcorp taking on the role as a strategic partner together with minority private investors, there will be no changes to the overarching governance structure of the Bank; nor to day-to-day interactions with clients.
The investment from Investcorp will provide PB with additional support to advance its growth strategy, enabling the Bank to further broaden and enhance its commercial offering to clients. Equally, the investment is in line with Investcorp’s strategy to selectively partner with companies that complement and grow both its existing client offering and international footprint. It brings the additional capability of offering Investcorp’s clients access to PB and its independent investment advice.
This investment is the latest milestone in Investcorp’s ambitious growth strategy to reach $50 billion of AuM over the medium term, and follows Investcorp’s acquisition last year of a $12bn AuM credit management business, now known as Investcorp Credit Management.
Investcorp’s investment in PB has been approved by FINMA and CSSF, the Swiss and Luxembourg financial regulators.
Commenting on the investment, Mohammed Alardhi, Executive Chairman of Investcorp, said: “We are delighted to be working with Banque Pâris Bertrand and its associates, who represent excellence in the field of private banking through their high-quality service offering and their high-performance investment solutions. Banque Pâris Bertrand Sturdza’s evolution since 2009 is remarkable – most noticeably for its alignment with its clients’ interests.
Investcorp, which benefits from 35 years of direct investments in Europe and the US, has developed a specialist expertise in private equity, real estate and alternative investments, which perfectly complements the offering of PB. Investcorp brings unique access to one of the most attractive investor bases for private and institutional investors. The synergies between the two institutions will therefore be significant, and should be mutually beneficial for both parties.”
Pierre Pâris & Olivier Bertrand, Co-Founding Partners of PB, said: “Investment from new private shareholders and Investcorp showcases both the attractiveness and the unique positioning of Banque Pâris Bertrand in the private banking and fund management space – particularly regarding our wealthiest and most demanding clients.
We are excited to welcome our new partners, who, without doubt, will contribute to the Bank’s development across multiple markets, strengthening our global reputation. We would like to thank Eric Sturdza for his support and trust since the Bank’s launch in 2009.”
Investcorp is a leading global provider and manager of alternative investments, offering such investments to its high-net-worth private and institutional clients on a global basis. Led by a new vision, Investcorp has embarked on an ambitious, albeit prudent, growth strategy. The Firm continues to focus on generating investor and shareholder value through a disciplined investment approach in four lines of business: private equity, real estate, absolute return investments and credit management.
As at June 30, 2018, the Investcorp Group had US$22.6 billion in total AUM, including assets managed by third party managers and assets subject to a non-discretionary advisory mandate where Investcorp receives fees calculated on the basis of AUM.
Since its inception in 1982, Investcorp has made over 175 corporate investments in the U.S., Europe and the Middle East and North Africa region, including Turkey, across a range of sectors including retail and consumer products, technology, business services and industrials, and more than 600 commercial and residential real estate investments in the US and Europe, for in excess of US$57 billion in transaction value.
Investcorp employs approximately 390 people across its offices in Bahrain, New York, London, Abu Dhabi, Riyadh, Doha, and Singapore. For further information, including our most recent periodic financial statements, which details our assets under management, please visit: www.investcorp.com.
About Banque Pâris Bertrand SA
Banque Pâris Bertrand SA (PB) is an independent Swiss regulated private bank based in Geneva and Luxembourg. Founded in early 2009, PB offers institutional and private investors advice on global portfolios and investments.
The Bank is controlled by its founding partners who have a wealth of financial services and banking experience (UBS, CitiBank, Lombard Odier, Morgan Stanley). Georges Gagnebin, former CEO of UBS Wealth Management, is the Chairman of the Board.
The Bank’s clients include well-known entrepreneurs, family offices, large NGO’s, as well as recognised institutions in the field of pensions.
The growth of Assets under Management (AuM) has been steady, reaching CHF 5 billion to this day (+35% per annum), demonstrating the quality of our client services as well as the success of its investment strategies.
The Bank and its 50 associates advise investors on global portfolios and offer access to the best financial institutions. This allows PB to offer independent investment advice with careful risk management. PB guarantees complete independence and total objectivity in its investment choices, whether it may be for private or institutional clients. There is total alignment of interests between the Bank and its clients, in the aim of finding the best investment solutions.