UBS withdraws from private equity

Further write-downs of the UBS Capital private equityand venture capital portfolio, by EUR 285m in Q3, haspreceded news that the Swiss banking group islooking to sell these interests. UBS announced, W ehave made no secret of our wish to get out of ourprivate equity commitments as they are no longerconsidered core to our operations . In the meantime,the bank will continue to focus on managing theexisting portfolio, maximising returns and capitalisingon exit opportunities where they exist.

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