Banque Bonhôte in Neuchâtel has acquired FidFund Management SA, its real estate fund management company, establishing the Bank as a front-runner in Swiss securitised real estate.
Banque Bonhôte & Cie SA announced today that it has acquired FidFund Management SA, a real estate fund management company, in partnership with CACEIS (Switzerland) SA. This strategic investment marks a decisive new stage in the vertical integration of Bonhôte Group’s property investment services, positioning it as a front-runner in Swiss real estate management. FidFund Management SA, with a team of twelve staff, directly manages three real estate funds and provides administration services for a further three funds. The company is located in Nyon and manages over CHF 3.5 billion in real estate assets. Since its inception in 2006, Bonhôte-Immobilier has been managed by FidFund Management SA, and is now a leader in the Swiss market with over CHF 900 million of real estate assets under management. The fund has a portfolio of 2,500 prime apartments in the French-speaking region of Switzerland, and offers investors the advantage of tax exemption on both dividends and assets. With this acquisition of its fund management company, Bonhôte secures full control over the entire investment process.
According to Yves de Montmollin, CEO of Bonhôte Group, this acquisition marks a new chapter of growth for the Bank: “This operation fits seamlessly with the Group’s current development and confirms our intention to expand our footprint in Vaud Canton, where we recently inaugurated a new branch in Lausanne." More specifically, this acquisition gives us the wherewithal to pursue the spectacular growth of our real estate fund, and consolidates Bonhôte Group’s position as a leading player in Swiss real estate management.
Philippe Bens, Senior Country Officer at CACEIS in Switzerland, commented: “We are very pleased with this agreement which will enable us to pursue our strong and long-standing relationship".
Bonhôte Group has its registered office in Neuchâtel and branches in Geneva, Lausanne, Berne and Bienne. After celebrating its bicentenary in 2015, it is delighted with this latest expansion in Western Switzerland.