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Swiss Bank's WFOE In China Partners With Private Equity House

Editorial Staff, 18 November 2020

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The strategy is dedicated to finance the expansion of well-established and fast-growing innovative European companies.

Union Bancaire Privée, the Geneva-based private bank, has announced that its wholly foreign-owned enterprise in China, UBP Overseas Investment Management (Shanghai), has partnered with Idinvest Partners, a European private equity firm and a subsidiary of global investment company Eurazeo.

This partnership took place under the Qualified Domestic Limited Partnership scheme granted to UBP in May 2020 by Chinese authorities. As a result, onshore Chinese investors will be able to have exposure to a private equity strategy managed by Idinvest Partners in Europe. 

The strategy is dedicated to finance the expansion of well-established and fast-growing innovative European companies, UBP said in a statement yesterday. 

UBP China was set up at the end of 2014 as a joint venture between investment professionals and UBP. The joint venture has registered capital of RMB30 million ($4.9 million).

Eurazeo has €18.8 billion ($22.3 billion) in assets under management, including €12.5 billion from third parties, invested in over 430 companies. Listed on the Euronext Paris, Eurazeo has offices in Paris, New York, Sao Paulo, Seoul, Shanghai, London, Luxembourg, Frankfurt, Berlin and Madrid.

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