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March 1, 2012updated 04 Apr 2017 3:43pm

UBP to acquire Nexar Capital Group

Switzerlands Union Bancaire Prive (UBP) has signed a deal to acquire alternative investment manager Nexar Capital Group, saying the acquisition demonstrates its ongoing commitment to the alternative investment industry.

By Thomas McMahon

Switzerland’s Union Bancaire Privée (UBP) has signed a deal to acquire alternative investment manager Nexar Capital Group, saying the acquisition demonstrates its “ongoing commitment” to the alternative investment industry.

The combined UBP-Nexar alternative investment group will form a new division reporting to UBP’s CEO Guy de Picciotto. It will have offices in Geneva, New York, London, Paris, Jersey, Tokyo and Hong Kong

Nexar Capital Group had approximately $3bn in assets under management as at 31 December 2011. It manages funds of hedge funds and volatility strategies, as well as overlay and customised portfolio solutions. Nexar’s subsidiaries include AAAm (formerly Allianz Alternative Asset Management) and Ermitage.

Explaining the background to the acquisition, UBP said it strongly believes in the important role of funds of hedge funds in meeting each client’s objectives with respect to dynamic and performing portfolios.

Nexar was founded in 2009 by global CEO Arie Assayag, global CIO Eric Attias and head of volatility strategies, Bernard Kalfon.

The terms of the acquisition were not disclosed and the agreement is subject to the requisite regulatory approvals.

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