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Bahrain's Investcorp acquires minority stake in Swiss private bank

Bahrain-based Investcorp Bank B.S.C. acquired a minority stake in Swiss private bank Banque Pâris Bertrand Sturdza SA for an undisclosed sum.

Investcorp said the private bank, which manages CHF5.3 billion in assets, will be renamed Banque Pâris Bertrand SA (PB) and will remain operationally independent.

The Financial Times reported Sept. 5 that the stake Investcorp acquired was more than 40%.