Bahrain-based private equity firm Investcorp has acquired a minority stake in Swiss-regulated private bank Banque Pâris Bertrand Sturdza for an undisclosed price.
Investcorp provides and manages alternative investment products, serving high-net-worth private and institutional clients.
Banque Pâris Bertrand Sturdza, which is based in Geneva and Luxembourg, will be renamed as Banque Pâris Bertrand (PB), and will continue to operate independently.
Investcorp will assume the role of a strategic partner alongside minority private investors while the transaction will not lead to any changes to the overarching governance structure of the Swiss bank and also to its day-to-day interactions with clients.
Launched in 2009, the Swiss bank offers independent investment advice and personalized investment solutions to more than 400 high-net-worth individuals, family offices and institutional clients primarily hailing from Switzerland and Europe.
Investcorp executive chairman Mohammed Alardhi said: “We are delighted to be working with Banque Pâris Bertrand and its associates, who represent excellence in the field of private banking through their high-quality service offering and their high-performance investment solutions.
“Banque Pâris Bertrand Sturdza’s evolution since 2009 is remarkable – most noticeably for its alignment with its clients’ interests.
Investcorp said that its investment will give PB further support to move ahead with its growth strategy while also helping it to further expand and improve its commercial offering to clients.
Further, the investment aligns with Investcorp’s strategy of selectively partnering with firms that complement and grow its current client offering and global presence.
PB co-founding partners Pierre Pâris and Olivier Bertrand said: “Investment from new private shareholders and Investcorp showcases both the attractiveness and the unique positioning of Banque Pâris Bertrand in the private banking and fund management space – particularly regarding our wealthiest and most demanding clients.
“We are excited to welcome our new partners, who, without doubt, will contribute to the Bank’s development across multiple markets, strengthening our global reputation.”
The equity investment had received approvals from FINMA and CSSF and also from the Swiss and Luxembourg financial regulators.