Pictet Expects Realignment in Private Equity: With plummeting stock market valuations this year, private market investments are in vogue. But a slowdown in business is now taking place, Pierre Stadler tells… pictet pierrestadler privateequity
As a student, Pierre Stadler had no specific career aspiration. All he knew was that he did not want to work for a bank. To him, financial institutions meant people sitting in front of their screens day after day, studying screens with the blips of stock market prices. To him, that seemed boring and intangible.
Private equity, or more broadly private market investments, is the investment flavor of the moment. These investments can run the gamut from real estate to financing individual corporate projects. The demand for such investments has grown enormously over the past five years and the number of fund managers specialized in this area has doubled to 8,000 in the past decade.
Now, the bank works with some 70 external private equity managers globally, partly through funds, but also through direct investments in promising companies. Pictet manages client assets of around 24 billion Swiss francs, representing about a tenth of the bank's private client portfolios.
By bundling and structuring such investments into funds, bank clients can invest smaller amounts, Stadler explains. In 2020, Pictet went a step further, launching private equity funds focused on specific themes by investing only in technology, healthcare, or environmental companies, for example. As «head of thematic private equity,» Stadler is responsible for this line of business, which employs a total of ten professionals among three dedicated teams.
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