Mubasher: Investcorp has announced the acquisition of a minority stake in Switzerland’s Banque Pâris Bertrand Sturdza.
Following the acquisition, the Swiss lender will be renamed to Banque Pâris Bertrand SA and will operate independently, according to a company statement.
The latest deal came in line with Investcorp’s strategy to increase assets under its management to $50 billion in the medium term.
Investcorp, a Bahraini leading global provider and manager of alternative investments, gave no further details on the value of the transaction.
“Banque Pâris Bertrand Sturdza’s evolution since 2009 is remarkable - most noticeably for its alignment with its clients’ interests,” Investcorp’s executive chairman Mohammed Alardhi commented.
The Geneva-based bank will maintain his governance structure and everyday interactions with clients, Investcorp 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,” co-founding partners of Banque Pâris Bertrand Sturdza stated.