Société Générale Private Banking (SGPB) will seek to create ‘club deals’ between groups of ultra high net worth clients (UHNW) within its new Private Investment Banking (PIB) unit.

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PIB global head Galeazzo Giraldi gave more of an outline of the new division at a press conference launching SGPB’s latest research into family business, Global Wealth & Family Ties.

Giraldi said the club deals would look to pull together groups of holding company or family offices to make bigger deals at a lower risk to their personal investments.

 

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PIB’s unit will seek to offer clients a range of services, including investment product ideas, syndicated loans, access to pre-IPO anchor opportunities, and will also provide advisory services on targets that may be too large or too risky for UHNW clients and family offices to undertake individually.

SGPB’s PIB, which launched earlier this month, has been set up to provide a formal link between the French bank’s private and corporate investment bank.

 

Club deals on the rise

So-called club deals have been used by HSBC since 2009 to buy high-profile commercial property around the world for private client syndicates. Deutsche Bank has also beefed up collaboration between its CIB and wealth management arm through its 300-strong key client group.

 SGPB clients will need to have between €200m-300m ($266m-$398m) in liquid assets to work with the PIB unit.

 UHNW clients are one of the key segments for SGPB, with its UK unit SGPB Hambros claiming 35% of its total assets under management come from clients with more than $20m.