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

Financial Industry Blockchain Consortium R3 To Open-Source Platform Code

Oct 20 2016 | 9:03pm ET

Bitcoin's blockchain technology has spawned a flurry of activity among fintech startups...


Hedge Funds Swarm Into Palm Beach

Oct 27 2016 | 2:32pm ET

As the first flakes of snow fall on New York's northern suburbs, Dan Weil of South...

Guest Contributor

Kettera Q&A: The Advantages of Alternative Investment Platforms

Oct 28 2016 | 5:52pm ET

The past several years have seen a distinct push towards easier and cheaper access...