Geneva banks join forces to launch private fund boutique

Bank Pâris Bertrand Sturdza, Bordier & Cie and REYL & Cie have teamed up to launch Hermance Capital Partners, an investment boutique platform focusing on non-listed assets, including private equity, private debt and private real estate.

Hermance Capital Partners will operate as independent self-governing entity, equally owned by all three Geneva-based banks, according to a statement unveiling the arrangement on the Hermance Capital Partners website. Like the banks backing it, Hermance is based in Geneva, with a Hermance Capital Management offshoot operating out of Luxembourg.

The Hermance Capital Partners entity will invest in private equity, private debt and private real estate, on behalf of private banks, family offices and independent wealth managers, according to the announcement, posted on Friday.

These investment products will be offered to clients through Hermance, which will “act as an
independent self-governing entity, equally owned between Bank Pâris Bertrand Sturdza SA, Bordier &
Cie and REYL & Cie, alongside the management team”.

The alliance between the three Geneva banking groups is  described in the statement as being underpinned “by shared interests and spearheaded by a desire to develop exclusive, high-performing private investment solutions” for their clients.

It adds that in the future, the three Geneva banks “could be joined [in their involvement in Hermance Capital Partners] by other high-quality business partners in Switzerland and in Europe”.

Hermance Capital Partners was originally founded as an investment boutique focused on private investment assets in 2016, by Pierre Pâris, a founding partner and and chief executive of Bank Pâris Bertrand Sturdza SA, and Jacques Chillemi, currently head of private equity at  the same bank.

Chillemi will head up the Hermance investment team, which is described as being comprised of experienced private equity, M&A and private banking specialists.

Collectively the team has invested in more than 150 funds, taken part in 40 co-investments and direct investment deals, and participated in more than 20 secondary market transactions,  according to Hermance.

It says the Hermance offering currently consists of  two strategies, operational as multi-manager funds – one investing in private real estate debt and the other in buy-outs of small and mid-sized US companies.

The boutique plans to launch a European class of the buy-out strategy later this month, as well as a direct investment vehicle; and ultimately, to launch at least six strategies, which will be deployed internationally and cover private equity, private real estate and private debt.

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