Three Swiss private banks have partnered up to develop Hermance Capital Partners, an investment boutique focusing on private equity, private debt and private real estate.
Bank Paris Bertrand Sturdza, Bordier & Cie, and REYL & Cie are the banks involved in the initiative.
The private market fund platform, Hermance Capital Partners, will act as an independent self-governing entity and be equally owned by all three partners.
The companies in a joint statement said: “This alliance between Bank Pâris Bertrand Sturdza SA, Bordier & Cie and REYL & Cie is underpinned by shared interests and spearheaded by a desire to develop exclusive, high-performing private investment solutions.”
The fund invests in non-listed assets on behalf of its private clients. It is targeted at private banks, family offices and independent wealth managers.
Hermance Capital Partners is led by Jacques Chillemi.
The firms said: “The modular fund-based approach enables flexibility within the process so that investors can build portfolios according to their own diversification restrictions.
“Two strategies are currently operational as multi-manager funds, one investing in private real estate debt and the other in buy-outs of small and midsize US firms.”
They also said Hermance Capital Partners will also be looking to launch a European class of buy-out strategy and a direct investment vehicle in February 2018.
At least six strategies will be deployed internationally across private equity, private real estate and private debt.
Chillemi said: “Our collaborative mindset is that we can do more together than by ourselves, and joining forces guarantees success by granting global access to high-value PE investments that would be inaccessible to small and midsize investors without this platform”.