UBP buys $3bn Nexar to boost FoHF business

Wed Feb 29, 2012

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Union Bancaire Privée (UBP) has announced a definitive agreement to acquire Nexar Capital Group, the fast-growing fund of hedge fund group that was set up in 2009 by senior former SocGen executives, in a bid to boost its flagging fund of fund business.

The terms of the deal were not disclosed. However, the transaction looks designed to reinvigorate UBP's fund of hedge fund business...

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