The deal also includes the acquisition of ACPI IM’s operations in Jersey.
Established in 2001 by Alok Obero, ACPI provides a range of fixed income, equities, alternative investments and wealth management services for private and institutional investors across the globe.
The acquisition will allow UBP to expand its presence in London, which is one of its strategic booking centres.
Oberoi said: “ACPI are delighted to have joined with a firm of UBP’s credibility and capability who, as a family-owned business, have a similar ethos to ours and share our long-term vision. Brett Lankester, our CEO, and I are genuinely excited by the opportunities this agreement brings to our people and our clients.”
ACPI is expertise in discretionary management and advisory management, as well as in providing institutional solutions and entrepreneurial capital.
As part of discretionary management, the company will formulate an investment thesis that encapsulates its big picture analysis and drive the asset allocation process.
Later, the firm will derive strategies for different asset classes from investment thesis.
The company’s advisory team provides tailor made solutions on the hedging of liquid and illiquid stock positions, commodities and currencies.
Subject to the approval of relevant regulatory bodies, the deal is expected to be completed in the fourth quarter of this year.
UBP CEO Guy de Picciotto said: “This acquisition reaffirms our long-term commitment to the UK and our intention to continue broadening our footprint in this pivotal market. London remains a hub for international investors, as well as for UBP which provides both foreign and UK-based clients with innovative solutions.”
UBP provides investment and wealth management services for private and institutional clients. Its assets under management totalled CHF 128.4b, as of 30 June this year.
