- Pareto is a technical and facilities services provider to the built environment
- Pictet acquired the controlling interest in Pareto from the current shareholders
- Pictet is a Swiss multinational private bank and financial services company
Pictet Alternative Advisors has invested in Pareto FM, a technical and facilities services provider to the built environment. The investment is the first by Pictet’s new direct private equity team.
Pareto offers operational, maintenance and management services in buildings across the UK and globally. The company is headquartered in London.
Additional financial investment from Pictet will allow Pareto to expand its service offering, invest in new technology and make complementary acquisitions, according to a press release.
“This is an exciting time to be investing in facilities management, an industry going through dynamic change and where ESG is becoming more and more important to asset owners,” Edmund Buckley, head of direct private equity at Pictet. “Pareto is an exceptional business with a differentiated brand and high-quality service proposition. We look forward to working with the team – leveraging our financial, operational and industry expertise – to grow the business and provide customers with outstanding service.”
Pictet has acquired a controlling interest in Pareto from the current shareholders, including Andrew Hulbert, who will remain a significant shareholder in, and vice chair of, Pareto.
Geneva-headquartered Pictet Group is an independent wealth and asset manager. The firm managed SFr632 billion (€727 billion; $796 billion) in assets under management or custody as of 30 September.