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Alternative Market Briefing

UBP is changing its alternative funds' management model

Tuesday, June 11, 2013

Benedicte Gravrand, Opalesque Geneva: - Arié Assayag, head of alternative investments at Union Bancaire Privée, aka UBP, told Swiss daily Le Temps that the Swiss bank is changing its alternative funds' management model. The change actually started when he arrived at the bank a year ago, when UBP acquired the fund of hedge funds manager Nexar, which he used to head (Opalesque article).

Nexar, based in New York and Paris, was launched in September 2009 by thirty senior bankers from Societe Generale. Following the acquisition and integration of Nexar, UBP launched an alternatives division that offers clients broad alternative investment expertise and innovative solutions.

UBP launched its first fund of hedge funds (FoHFs) in 1986. Over the years, it has built up a hedge fund advisory service and runs several pooled funds and mandates. But the Geneva-headquartered bank suffered from heavy redemptions during the credit crisis, especially after it was found that it had large exposure to Ma......................

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