Bahrain’s Investcorp acquires stake in Banque Pâris Bertrand Sturdza

Bahrain alternative investment firm Investcorp said on Wednesday it had acquired a minority investment in Swiss private bank Banque Pâris Bertrand Sturdza.

Following the deal, the bank will be renamed Banque Pâris Bertrand SA but will remain operationally independent, with Investcorp acting as a partner alongside minority investors, the company said.

The additional funds will be used to expand the bank’s commercial offering and support its growth.

Since its establishment in Geneva in May, 2009, Banque Pâris Bertrand has grown its assets under management an average of 35 per cent a year to CHF5.3bn ($5.4bn) at the end of June, according to the announcement.

Its clients include more than 400 high net worth individuals, family offices and institutional clients from Switzerland and Europe and its operates in Geneva and Luxembourg.

Investcorp brings unique access to one of the most attractive investor bases for private and institutional investors, said Investcorp executive chairman Mohammed Alardhi.

“The synergies between the two institutions will therefore be significant, and should be mutually beneficial for both parties.”

Investcorp has a goal of reaching $50bn in assets under management over the medium term from $22.6bn at the end of June.

Last year it acquired the debt management business of UK-based 3i Group, giving the firm an additional $12bn of assets under management,

Read: Bahrain’s Investcorp to acquire 3i’s debt management business

Investcorp also announced its acquisition of German HR software provider and job marketplace Softgarden earlier this week.

Read: Bahrain’s Investcorp acquires German HR software firm

The company said last month it expected to make its first direct investments in China and India.

Read: Bahrain’s Investcorp looks to make direct investments in China, India