UBP, Banco Popolare In Italian Alts. JV

Mar 31 2008 | 9:02am ET

Swiss private bank Union Bancaire Privée and Banco Popolare are teaming up to build a “full-fledged” alternatives manager in Italy.

UBP and Banco Popolare have set up a 50/50 partnership, with UBP investing in Banco Popolare’s Aletti Gestielle Alternative, a €3.6 billion (US$5.7 billion) fund of hedge funds firm. Banco Popolare will receive a cash consideration for selling the stake, as well as a deferred cash payment.

“The partnership… will create the leading full-fledged alternative asset manager in Italy, through the combination of AGA’s strengths in the private banking and retail business and UBP’s strengths in the private banking and institutional business,” UBP said in a statement.


In Depth

Humble in Hofstra...One Debate an Election Can Make

Sep 26 2016 | 10:20am ET

Tonight's U.S. Presidential debate, infamously coined the “Humbling in Hofstra...

Lifestyle

Vortic: Reimagining the Custom Wristwatch

Sep 27 2016 | 7:24pm ET

American watch manufacturer Vortic, which started out restoring antique pocket watch...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...