Swiss banking group SYZ is partnering with ACE & Company to offer direct private equity investments to its client base.
ACE will source the transactions and conduct due diligence, which SYZ’s ad hoc investment committee will assess before offering them on a deal by deal basis to its institutional and high net worth clients, SYZ said.
Investments will include a range of private equity deals, including early stage to buyout, growth capital and special situations. ACE specialises in direct co-investments, and opportunities offered could include companies it has invested in, as well as funds and other transactions, SYZ said.
The investment criteria, including the target size of the transactions, were not disclosed. “This activity is intended to evolve over time,” the firm said.
ACE will charge a management fee on each investment opportunity it presents, which will be shared with SYZ. The investment committee will be comprised of SYZ chief executive Eric Syz and two other investment professionals.
ACE has invested in companies including taxi-app Uber, online marketplace AliBaba and online noticeboard Pinterest. The private equity group manages $420 million invested in almost 100 assets.
SYZ has €37 billion in assets under management.