Wednesday, 1 April 2015
Last updated 1 hour ago
Mar 1 2012 | 4:00am ET
Union Bancaire Privée has boosted its hedge fund business with a deal for French hedge fund Nexar Capital Group.
The Swiss bank, badly burned by the Bernard Madoff Ponzi scheme, said yesterday it had agreed to buy the US$3 billion firm. Terms of the deal, expected to close in the spring, were not disclosed.
"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," the bank said.
Adding Nexar will bring UBP's hedge fund assets up to about US$14.5 billion. Nexar, founded in 2009 by former Société Générale hedge fund chief Arie Assayag, has itself been on something of an acquisitions kick, having bought Allianz's fund of hedge funds business in 2010 and Caledonia Investment's Ermitage fund of funds business last year.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…