Leading U.S. investment company Blackstone has hired an experienced banker to help with its expansion into Switzerland.

U.S. investment company Blackstone has appointed Michael Mostert to the newly created post of principal for Private Wealth Solutions in Switzerland.

Blackstone said in a press release Tuesday that Mostert would be responsible for expanding relationships with family offices and other managers of private wealth.

Mostert was intermediary sales director for Schroders Investment Management in Switzerland before joining Blackstone. He has also worked for Barclays Capital and BNP Paribas.

Cashing in on M&A

Blackstone has set up a legal entity in Switzerland as a basis for the expansion, according to the register of businesses.

Blackstone’s Private Wealth Solutions business manages over $100 billion. In simple terms, the unit offers very wealthy private investors access to Blackstone’s alternative investment solutions platform.

The timing of the move into the Swiss market is favorable. The mergers and acquisition business is booming, which offers major opportunities in the areas of private equity and private markets.

New Funds Planned

In this context Blackstone and its competitors such as KKR are planning new funds worth billions. In addition trends such as e-mobility and sustainability are fueling a rush into certain areas such as renewable energy and vehicle technology.

Special purpose acquisition companies (SPACs) are also feeding surge in demand for non-conventional asset classes among the super rich.

Blackstone says it has $649 billion of assets under management.

U.S. Giant Targets the Super-Rich: Blackstone plans to expand into Switzerland