Bahrain-based Investcorp has announced a strategic minority investment in Banque Paris Bertrand Sturdza, an independent, Swiss-regulated private bank based in Geneva and Luxembourg.
The bank, which has assets under management (AuM) of $5.4 billion, 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 will be renamed Banque Paris Bertrand SA (PB), and will remain operationally independent, a statement said.
The investment from Investcorp will provide the bank with additional support to advance its growth strategy, enabling it to further broaden and enhance its commercial offering to clients, the statement added.
This investment is the latest in Investcorp’s growth strategy to reach $50 billion of AuM over the medium term, and follows Investcorp’s acquisition last year of a $12 billion 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.
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.”
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.”
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