UAE. Union Bancaire Privée, UBP SA (“UBP”), one of Switzerland’s leading and best-capitalised private banks and a leader in the hedge fund industry with Middle East offices in Dubai and Beirut, has signed a definitive agreement to acquire Nexar Capital Group (“Nexar”), a global alternative investment company with offices in USA and Europe.
Clients worldwide and in the Middle East 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.
The combined UBP-Nexar alternative investment group will boast a broader platform, established global distribution capabilities and innovative solutions in the alternatives investment sector. It will 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 including those from the Middle East.
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.
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, 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.