Zurich-based private bank Julius Baer is making a deeper foray into private equity. It seeks to raise $250 million from clients in its latest effort.
To offer clients new ways to take advantage of a changing economic environment, Julius Baer is planning to raise $250 million from its clients for a new fund under its private equity offerings, according to a «Bloomberg» report on Tuesday.
By taking in that amount, the bank will have raised a total of $731 million since the launch of the program four years ago.
Biggest Fund to Date
Investment in the fund, the largest yet under Julius Baer's private equity efforts, requires a minimum commitment of $125,000. It will target small and medium-sized private equity firms that raise between $350 million to $3.5 billion, according to the report.
Additional opportunities will be sought out in direct co-investments and private market secondaries, according to Julius Baer marketing documents seen by «Bloomberg».
At the end of last year, Julius Baer had 424.1 billion Swiss francs ($468 billion) under management, which it says it can boost to one trillion dollars by 2030, as finews.com reported.
