Investcorp buys minority stake in Swiss bank

The Bank will be renamed Banque Pâris Bertrand SA, and will remain operationally independent.

Founding partner Eric Sturdza sold his stake in the bank, while Pierre Pâris and Olivier Bertrand remain invested alongside Investcorp.

Investcorp is aiming to increase its assets under management (AUM) from its current $22.6bn to $50bn in the medium term. Last year it acquired the credit business of 3i Group (now Investcorp Credit Management), adding $11bn to its AUM.

The investment will allow Banque Pâris Bertrand to expand its offering to institutional investors including a more advanced private equity and growth strategy.

Since it was founded in 2009, the bank has grown its AUM at an annual rate of 35%. It provides investment advice and fund management services to 400 high-net-worth individuals, family offices and institutional clients.

The transaction has been approved by the Swiss and Luxembourg financial regulators, FINMA and CSSF.

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