Swiss Bank UBP Acquires $3B Nexar Hedge Fund

Law360, New York (February 29, 2012, 7:34 PM EST) -- Swiss private bank Union Bancaire Privee SA has agreed to acquire Nexar Capital Group SCA's approximately $3 billion hedge fund for an undisclosed price in a move to strengthen UBP's position in the alternative investment industry, the companies announced Wednesday.

The companies will combine to form a new alternative investment group with offices in Geneva, New York, London, Paris, Tokyo and Hong Kong, Geneva-based UBP said.

UBP is acquiring New York- and Paris-based hedge fund firm Nexar as part of its strategy to expand its hedge...
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