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http://www.businessweek.com/news/2012-09-01/credit-des-alpes-acquires-interest-in-parinvest-group

Bloomberg News

Credit Des Alpes Acquires Interest in Parinvest Group

September 01, 2012

Swiss investment bank Credit des Alpes agreed to acquire an interest in Parinvest Group, a Miami- based real estate broker and asset manager.

The transaction will lead to the creation of a new company, Parinvest Asset Management Inc., that will provide property sales and asset management services to foreign investors in Miami, Los Angeles and New York, Credit des Alpes said in an e- mailed statement. Financial terms of the deal, which the firm said would help it access investment opportunities for Latin American clients, were not disclosed.

“Certain areas of the U.S. real estate market are, and will continue to be, safe and sound investments,” Credit des Alpes chairman Fabrizio Cerina said in the statement. “We have seen a strong increase in interest from our Latin American client base and we expect this trend to continue.”

Credit des Alpes and Parinvest have been collaborating to advise clients on Miami property transactions since 2007, according to the statement.

To contact the reporter on this story: Aaron Kirchfeld in London at akirchfeld@bloomberg.net

To contact the editor responsible for this story: Jacqueline Simmons at jackiem@bloomberg.net


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