New York (HedgeCo.net) – Union Bancaire Privee, UBP SA, one of the leaders in Switzerland’s hedge fund industry, has signed a definitive agreement to acquire Nexar Capital Group, a global alternative investment manager.
The combined UBP-Nexar alternative investment group 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. The deal, the terms of which were not disclosed, is subject to the requisite regulatory approvals.
UBP 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. The Bank had CHF 72 billion ($77 billion) in assets under management as at 31 December 2011.
Nexar Capital Group had approximately $3 billion in assets under management as at 31 December 2011. 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.
Alex Akesson
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