Mergers & Acquisitions / Joint Ventures

UBP buys Nexar as FoHF snowball grows

by

Arie Assayag
Union Bancaire Privée (UBP) has bought 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 and become one of a dozen or so super-sized players in the future fund of hedge fund industry.

The move is seen by many as a race by the bigger funds of funds to absorb as much of the hedge fund advisory market as possible and create a monopoly of a dozen or so super-sized