Union Bancaire Privée, UBP SA (UBP) is strengthening its real estate capabilities within its Private Markets Group (PMG) department by recruiting a team specialised in government-leased real estate and by launching its first strategy focused on governmental properties.
Having been present in the private markets space since 2015, UBP now has a PMG team that is 33-strong and covers Europe, the Middle East and Asia, with EUR 3.5 billion in assets under management. They are active in four areas: private debt, infrastructure, private equity and real estate.
In 2021, UBP broadened its expertise in real estate by hiring Pierre Escande as Head of Real Estate and Frédéric Vernier as Senior Transaction Manager. Based in Paris, the dedicated real estate team can rely on the support of an investment committee of five professionals and a strategic advisory board.
Further to the success of its governmental real estate offering, UBP has launched its first evergreen strategy classified as Article 8 under the SFDR. It targets core assets rented to governmental and supranational entities in the eurozone’s major business centres. This strategy has raised over EUR 280 million in capital to date and has just completed its first investment with the acquisition of a 32,000 square-metre office block in Paris (Saint-Denis), at rue Camille Moke, in the Landy-France area. This building, co-developed by AXA IM and Bouygues Immobilier and due to be completed by 2024, is secured with an off-plan property lease to a renowned public body.
Nicolas Faller, UBP’s Co-CEO Asset Management, commented:
“This new governmental real estate offering complements our range of high added-value private market solutions for our institutional clients. With over EUR 3.5 billion under management, UBP is emerging as a major player in private markets, whether in real estate, private debt, infrastructure or private equity.”
Pierre Escande, Head of Real Estate at UBP, added:
“Real estate rented by public bodies is an attractive asset class due to its intrinsically high visibility on flows. In the current macroeconomic environment, this new strategy gives our clients access to a non-cyclical market with stable returns. We are delighted with this new acquisition, which demonstrates UBP’s ability to carry out high-profile operations. We will continue to target similar opportunities in France, but also in Europe’s other major business hubs.”
For this transaction, UBP was advised by Mayer Brown (for the tax and legal aspects), Allez et Associés (notary-public) and Drees & Sommer (for technical aspects).
