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From Benedicte Gravrand, Geneva:
Bordier & Cie’s associates are strengthening their European presence in the onshore asset management. They announced on Friday they had bought out 90% of Berry Asset Management’s capital. Bordier & Cie, Geneva’s smallest private banker, lifted its managed holdings from CHF8 billion (US$ 6.5 billion) in 2006 to nearly CHF10 billion (US$8.1 billion), the Swiss newspaper Le Temps reported.
Berry Asset Management, a London-based private management company with mainly High-Net-Worth individuals as clients, manages around CH1.7 billion (US$1.3 billion). It was founded by Jamie Barry twenty-six years ago and has grown spectacularly ever since, multiplying its AUM seven times over.
Bordier & Cie had initially acquired a 45% shareholding in Berry in 2001. “We realised then that London was going to become the unavoidable financial centre of Europe, and today, of the world”, Grégoire Bordier said.
Berry will remain independent
The London firm has its own investing style, which is distinct from Bordier & Cie’s; it consists entirely in multi-strategy funds invested in multiple asset classes including hedge funds.
Berry will remain a separate entity from Bordier & Cie and structurally, will be a sister-company. Grégoire Bordier will be a non-executive director. “This buy-out was done with the associates’ own funds and not the...................... To view our full article Click here
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