Belvoir Capital

What Belvoir Capital does

Belvoir Capital AG is an independent, FINMA-regulated Swiss wealth manager and multi-family office headquartered in Zurich, with additional offices in Lugano and Lausanne. Founded in 2014 through the merger of BSZ AG Vermögensverwaltung (2004) and IFP Independent Financial Partners AG (1996), the firm has consolidated five separate acquisitions of client mandates and boutique asset managers through 2017, and in November/December 2024 merged with Alasia SA, a FINMA-regulated wealth management boutique part of PKB Group (owned by the Trabaldo Togna family), which simultaneously took a majority stake in Belvoir.

The firm serves three primary client segments: high-net-worth private clients, family offices, and institutional clients. It provides discretionary portfolio management, multi-asset investment advisory, family office services (contract management, service provider coordination, multi-generational wealth structuring), and institutional manager selection via a documented four-step process (quantitative, qualitative, due diligence, final analysis). It distributes three proprietary investment products: the Belvoir Global Allocation Fund, Belvoir Global Allocation II Universal, and the Crypto Alpha Strategy ETI, and operates Belvoir Direct, an online wealth management platform launched in November 2020. Underlying technology includes a proprietary in-house Soll/Ist (target/actual) wealth controlling system and an external client portal (netfolio.ch); no AI/ML capabilities are disclosed.

Revenue is generated primarily through AUM-based asset management fees on discretionary mandates and the firm's three proprietary funds, supplemented by fees for family office and advisory services, and by co-investment returns from direct investments (venture capital, private equity) and club deals in which Belvoir invests alongside clients. Pricing is negotiated bilaterally and not publicly disclosed. The firm is privately held (no funding rounds), is FINMA-authorized as a Manager of Collective Assets under CISA Art. 18 since April 2016, is GDPR/PDPA compliant, and meets FinSA information requirements. Post-merger headcount stands at approximately 40+ employees across three offices.

Name

Belvoir Capital

Legal name

Belvoir Capital AG

Website

https://belvoircapital.com

Company type

Private

Founded year

2014

Operating status

Operating

Headcount range

11–50 employees

Short description

Belvoir Capital AG is an independent, FINMA-regulated Swiss multi-family office and wealth manager serving HNWI, family offices, and institutional clients from Zurich, Lugano, and Lausanne via discretionary mandates, three proprietary funds, and family office services.

Ownership category

akta.pro rank

Product category

Multi-Family Office & Wealth Management Services

NAICS

Portfolio Management and Investment Advice (523940), Other Investment Pools and Funds (5259)

SIC

Finance Services (6199), Investors, Nec (6799)

akta.pro primary industry

Institutional Separate Accounts & SMAs (Mandates) (FSAAAGAL)

akta.pro secondary industries

Managed Accounts & Model Portfolios (SMA/UMA) (FSAAAAAG), Investment Management Advisory (RIA) (FSAEAAAB)

Keywords

• Wealth management services
• Multi-family office
• Asset management
• Portfolio management
• Family office services

Headquarters

HQ city

Zürich

HQ country

Switzerland

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others

Revenue model

1. Asset Management Fees: AUM-based management fees charged on discretionary wealth management mandates and multi-asset portfolio mandates. This is the primary revenue driver for a multi-family office.
2. Investment Fund Management: Management fees and potentially performance fees from proprietary investment funds including Belvoir Global Allocation Fund, Belvoir Global Allocation II Universal, and Crypto Alpha Strategy ETI.
3. Family Office & Advisory Services: Fees for comprehensive family office services including contract management, service provider coordination, and tailored wealth structuring.
4. Direct Investments & Club Deals: Co-investment returns from direct investments (venture capital, private equity) and club deal structures, where Belvoir Capital invests alongside clients, typically on its own account.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

Belvoir Capital AG is a FINMA-regulated multi-family office and independent wealth manager that delivers discretionary asset management, family office services, and institutional investment solutions to high-net-worth individuals, families, and institutional clients. Its core offerings are three proprietary investment products (Belvoir Global Allocation Fund, Belvoir Global Allocation II Universal, and Crypto Alpha Strategy ETI) plus comprehensive advisory services across private clients, family office, and institutional client segments, with assets spanning liquid securities, direct investments, real estate, and club deals.

Product overview

Belvoir Capital AG operates as an independent wealth manager and multi-family office offering a unified suite of financial services. The core offering comprises three main investment products: the Belvoir Global Allocation Fund and Belvoir Global Allocation II Universal (multi-asset global allocation funds), and the Crypto Alpha Strategy ETI (a cryptocurrency-focused exchange-traded instrument). These are complemented by comprehensive advisory services including Private Clients wealth management, Family Office services, and Institutional Clients solutions. The firm also operates Belvoir Direct, an online wealth management platform launched in 2020. Asset management covers liquid securities, direct investments, real estate, and club deals. The company operates across three Swiss financial centers (Zurich, Lugano, and Lausanne) and serves private clients, families, and institutional investors.

Differentiator

Problem solved

Functional benefit

Brands

• Belvoir Global Allocation Fund: Multi-asset investment fund launched 2008, managed by Belvoir Capital
• Belvoir Global Allocation II Universal
• Crypto Alpha Strategy ETI
• Belvoir Direct

Quantifiable outcome

• Belvoir Global Allocation Fund returned 7.89% (EUR tranche) and 8.51% (CHF tranche) in 2024.
• +2 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

13 partnerships are on record, tiered minor and core.

• Belvoir Wealth ManagementminorStrategic or Co-development Partner · 10 December 2024Belvoir Wealth Management is a Swiss investment boutique based in Zurich with SEC registration, specializing in investment solutions for U.S. persons (US persons). Following the merger, PKB Group holds an indirect minority stake in Belvoir Wealth Management. Belvoir Capital benefits from this affiliation to serve cross-border client needs.
• Alasia SAcoreStrategic or Co-development Partner · 25 November 2024Alasia SA, a FINMA-regulated wealth management and corporate advisory boutique and subsidiary of PKB Group, merged into Belvoir Capital AG in November 2024. The merger combined two independent Swiss wealth management platforms with strong strategic complementarity. Alasia's team, client relationships, and expertise were integrated into the combined entity, with Belvoir Capital emerging as a leading independent asset manager and multi-family office in Switzerland.
• UBSminorOthersListed as one of the main partner banks for Belvoir Capital. UBS serves as a custody and execution bank for client portfolios.
• Credit SuisseminorOthersListed as one of the main partner banks for Belvoir Capital. Credit Suisse serves as a custody and execution bank for client portfolios.
• Julius BärminorOthersListed as one of the main partner banks for Belvoir Capital. Julius Bär serves as a custody and execution bank for client portfolios.
• Berenberg BankminorOthersListed as one of the main partner banks for Belvoir Capital.
• Bank J. Safra SarasinminorOthersListed as one of the main partner banks for Belvoir Capital.
• LGT BankminorOthersListed as one of the main partner banks for Belvoir Capital.
• Liechtensteinische LandesbankminorOthersListed as one of the main partner banks for Belvoir Capital.
• Maerki BaumannminorOthersListed as one of the main partner banks for Belvoir Capital.
• PictetminorOthersListed as one of the main partner banks for Belvoir Capital.
• VontobelminorOthersListed as one of the main partner banks for Belvoir Capital.
• Schoeller BankminorOthersListed as one of the main partner banks for Belvoir Capital.

Scale indicators6 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Mirabaud: Geneva-based Swiss private bank and wealth manager offering discretionary portfolio management, multi-family office, and investment fund services to HNWI and institutional clients. Directly comparable to Belvoir in target clientele, Swiss multi-office footprint, and boutique-institutional hybrid positioning.
• Hyposwiss: Zurich-based Swiss private bank offering wealth management, family office services, and asset management to HNWI and family offices. Closely comparable in size, Swiss-only footprint, and focus on personalized multi-family office-style services.
• PKB Private Bank: Lugano-based Swiss private bank and Belvoir's parent group following the 2024 majority stake acquisition. Directly comparable as a Swiss private banking and wealth management group serving HNWI, family offices, and institutional clients in the Ticino and broader Swiss market.
• Clavis Wealth Management: Zurich-based independent Swiss wealth manager offering discretionary portfolio management and family office services to HNWI. Closely comparable in boutique positioning, Swiss HNWI focus, and independent FINMA-regulated service model.
• Marcuard Heritage: Swiss multi-family office providing wealth structuring, asset management, and advisory services to HNWI and families. Comparable in multi-family office positioning, focus on generational wealth, and boutique-scale Swiss wealth management.

Broad incumbents

• EFG Bank: Zurich-headquartered global private banking group with strong Swiss HNWI franchise and asset management capabilities. Comparable in providing discretionary wealth management and proprietary funds, but operates at materially larger scale across multiple jurisdictions.
• Bank J. Safra Sarasin: Basel-based Swiss private bank with wealth management, asset management, and investment fund offerings. Comparable in serving Swiss HNWI and institutional clients with a multi-asset approach, though at significantly larger scale and broader international footprint.
• Pictet Group: Geneva-based Swiss private bank and asset manager operating Pictet Wealth Management and Pictet Asset Management. Overlaps with Belvoir in HNWI wealth management, multi-asset funds, and institutional manager selection — though operating at vastly greater scale.
• Vontobel: Zurich-headquartered Swiss private bank and asset manager serving HNWI and institutional clients via Wealth Management and Asset Management divisions. Comparable in serving Swiss HNWI and offering proprietary multi-asset funds, but with materially broader product set and scale.
• Lombard Odier: Geneva-based Swiss private bank offering wealth management and asset management to private and institutional clients. Comparable in targeting HNWI and family offices with multi-asset mandates, though operating at significantly larger scale and with broader international reach.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/belvoircapital
• LinkedInlinkedin.com/company/belvoir-capital-ag

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Belvoir Capital