UBP Preps Hybrid Distressed Fund of Funds

Union Bancaire Privée is launching a hybrid hedge fund-private equity fund of funds to exploit opportunities in the distressed market.

The SquareInvest Distressed Opportunity Fund will make its debut next month and plans to raise US$500 million from institutional and other investors. The UBP Pension Fund is seeding the fund with a “significant” amount, according to Vincenzo Narciso, UBP’s head of private equity.