What Alasia does

Alasia SA was an independent, FINMA-regulated Swiss wealth management and corporate advisory boutique headquartered in Lugano with a Zurich presence, operating as part of PKB Group and fully owned by the Trabaldo Togna family. The firm served high-net-worth private clients, families, and institutional investors with two core service lines: FINMA-regulated wealth management (portfolio and investment advisory) and corporate advisory. Its business model relied on relationship-led, direct advisory distribution, monetized primarily through recurring AUM-based management fees and advisory fees — a subscription-style, recurring revenue structure typical of regulated Swiss wealth boutiques. Marketing channels were limited to a professional website (alasiawca.com), newsletters, and referral-based acquisition, consistent with private banking norms.

On 10 December 2024, Alasia SA merged with Belvoir Capital AG, an independent Zurich-based FINMA-licensed (since 2016) collective asset manager and multi-family office, following PKB Private Bank's earlier 2024 acquisition of a majority stake in Belvoir. The combined entity operates independently as Belvoir Capital under CEO Steffen Bauke, with legacy Belvoir partners retained as qualified shareholders. The merged platform expanded service breadth into a multi-family investment office spanning liquid securities, direct investments, real estate, and club deals, and added proprietary products including the Crypto Alpha Strategy ETI and the Belvoir Global Allocation Fund lines. The arrangement also includes an indirect minority stake in Belvoir Wealth Management, a Zurich-based SEC-registered boutique serving U.S. persons, providing cross-border reach beyond Switzerland.

Operating geography is Europe (primarily Switzerland); no technology platform, proprietary software, or AI/ML systems are disclosed in available source material. The firm's principal defensibility stems from its FINMA regulatory license, the PKB Group / Trabaldo Togna family backing, and the relationship-driven nature of Swiss private wealth. As of the merger, Alasia as a standalone entity has been integrated into the Belvoir Capital platform.

Name

Alasia

Legal name

Alasia SA

Website

https://alasiawca.com

Company type

Private

Operating status

Acquired

Headcount range

11–50 employees

Short description

Alasia SA is a FINMA-regulated Swiss wealth management and corporate advisory boutique serving HNW private clients, families, and institutional investors; it merged with Belvoir Capital AG in December 2024 to form Belvoir Capital.

Ownership category

akta.pro rank

Product category

Wealth Management

NAICS

Portfolio Management and Investment Advice (523940), Open-End Investment Funds (525910)

SIC

Investment Advice (6282)

akta.pro primary industry

Comprehensive/Full-Service RIAs & Independent Wealth Managers (FSAAACAA)

akta.pro secondary industries

Managed Accounts & Unified Managed Accounts (UMAs) — Multi-Asset (FSAAAJAE), Buy-Side Search & Acquisition Advisory (FSAEAIAD)

Keywords

• Wealth management services
• Corporate advisory
• Asset management
• Multi-family office
• Investment advisory

Headquarters

HQ city

Lugano

HQ country

Switzerland

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Wealth Management Services: Alasia generates revenue through wealth management and corporate advisory services for private clients and families. As a FINMA-regulated wealth manager, the firm likely charges management fees based on assets under management (AUM) and potentially advisory fees for corporate advisory services.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

Alasia SA is an independent FINMA-regulated wealth management and corporate advisory boutique that provides portfolio management, investment advisory, and financial planning services for high-net-worth private clients, families, and institutional investors. As part of PKB Group, the firm offers comprehensive wealth management capabilities across liquid securities, direct investments, real estate, and club deals, alongside corporate advisory services delivered through direct relationship managers.

Product overview

Alasia is an independent FINMA-regulated wealth management and corporate advisory boutique operating as part of PKB Group. The company offers two core services: wealth management advisory for private clients and families, and corporate advisory services. Following its merger with Belvoir Capital AG, Alasia's operations have been combined into the merged entity operating as Belvoir Capital.

Differentiator

Problem solved

Functional benefit

Products and services

• Wealth Management Services FINMA-regulated wealth management services providing advisory and portfolio management for high-net-worth private clients and families across liquid securities, direct investments, real estate, and club deals.
• Corporate Advisory Corporate advisory boutique services as part of PKB Group, offering strategic guidance and corporate advisory to business clients.
• Multi-Family Office Services Multi-family office services including consolidated reporting, governance, and succession planning for affluent families requiring coordinated wealth management across multiple members.
• Institutional Asset Management Institutional-grade independent asset management and investment advisory services for institutional investors requiring unbiased investment oversight across liquid securities, direct investments, real estate, and club deals.

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered core and minor.

• Belvoir Capital AGcoreStrategic or Co-development Partner · 10 December 2024Alasia SA and Belvoir Capital AG completed a merger effective end of 2024. The combined entity operates as Belvoir Capital under CEO Steffen Bauke. The merger creates a leading independent asset management and multi-family office in Switzerland, combining Alasia's corporate advisory expertise with Belvoir Capital's investment management capabilities.
• Belvoir Wealth ManagementminorStrategic or Co-development PartnerThe partnership includes an indirect minority stake in Belvoir Wealth Management, a Swiss investment boutique based in Zurich with SEC registration, specialized in providing investment solutions for U.S. persons.

Scale indicators1 record

Recent moves7 records

Expansion highlights5 records

Direct peers

• Belvoir Capital AG: Belvoir Capital was Alasia's direct merger counterparty and is now the combined operating entity. Both were independent FINMA-regulated wealth managers in Switzerland, so pre-merger they were the most directly comparable boutique competitors.
• Mirabaud: Independent Swiss private bank offering wealth management, asset management and corporate advisory — a near-mirror of Alasia's combined service set, at slightly larger scale and with broader international reach.
• Lienhardt & Partner Privatbank: Zurich-based independent Swiss private bank offering HNW wealth management, family office and corporate advisory — a close functional and scale peer to the merged Belvoir Capital/Alasia platform.

Broad incumbents

• EFG International: Swiss private banking group with strong HNW and family-office franchises. Competes with Alasia/Belvoir Capital for Swiss-domiciled HNW relationships and offers similar advisory and discretionary services at greater scale.
• Julius Baer: Major Swiss pure-play private bank serving HNW and UHNW clients globally with portfolio advisory and discretionary mandates. Represents the scale tier against which smaller Swiss boutiques like Alasia compete for mandates.
• Pictet Group: One of Switzerland's largest independent wealth and asset managers, with discretionary portfolio management, advisory and fund offerings. Comparable product mix to Alasia/Belvoir Capital but at materially greater AUM scale.
• Union Bancaire Privée (UBP): Swiss private bank focused on HNW and institutional wealth and asset management. Comparable in product mix (discretionary mandates, multi-asset funds) and competes for the same client profiles as Alasia/Belvoir Capital.
• PKB Private Bank: Parent/owner via PKB Group and provider of balance-sheet strength. PKB is a Lugano-based private bank operating in the same Swiss-wealth space, with broader banking capabilities (lending, custody) than Alasia's pure advisory and AM model.
• Vontobel: Swiss wealth and asset manager offering discretionary mandates, multi-asset funds and family-office-style services. Larger and more diversified than Alasia but operates in the same Swiss HNW and institutional channel.

Regional players

• Hyposwiss (private bank): Zurich-based Swiss private bank serving HNW clients with discretionary and advisory mandates. Comparable in client segment and regulatory environment, though smaller in scale and primarily focused on the Swiss domestic market.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights5 records

Customer concentration

• LinkedInlinkedin.com/company/alasia-sa

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 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 Alasia