The latest news in investment offerings, financial products and other services relative to wealth advisors and their clients.

Pictet Alternative Advisors, part of Pictet, has made its first investment through its direct private equity team, buying a controlling interest in facilities manager Pareto FM.

The Swiss firm has acquired the stake from the current shareholders, including Andrew Hulbert. Hulbert will remain a significant shareholder in, and vice chair of, Pareto. Pareto, founded in 2014, provides technical and facilities services to the built environment. It offers operational, maintenance and management services in buildings across the UK and globally. 

Pictet was advised by Sidley Austin (legal), Deloitte (financial and tax), strategy and (commercial), and Marlborough Partners (debt).