May 2026
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Largest Asset Management Public Companies in Switzerland
Benchmark revenue and EBITDA valuation multiples for public comps like
Swiss Life, Partners Group, Julius Baer, VZ VermögensZentrum and Vontobel.
 | Swiss Life is predominantly a life and long-term savings company that generates the main share of its revenue and earnings from its domestic market of Switzerland. The company also operates in France, Germany, and a few smaller but wealthy European countries. The company has an asset manager as well. Swiss Life has three main sources of income that vary in significance by geography. Savings income relates to spread-based earnings, the risk result relates to an insurance margin, and the fee result relates to asset management and financial advisory. The fee result has been growing in importance over recent years as a result of advice, asset management, and unit-linked sales. | $1,063 | +4% | $30B | $36B | 1.3x | - | ||
| Partners Group is a Swiss-based global alternative asset manager founded in 1996. It manages funds invested in private equity, private credit, real estate, and infrastructure. Most of Partners Group's assets are invested in Europe and the Americas, with a smaller exposure to Asia and the Middle East. Partners Group operates a differentiated business model, offering bespoke client solutions through diversified portfolios tailored to each client individually, semiliquid open-ended funds, alongside traditional closed-end funds. | $1,044 | -21% | $27B | $30B | 9.3x | 14.2x | ||
| Julius Baer was founded in 1890 and expanded significantly in 2005 when it acquired three Swiss private banks and Global Asset Management from its far larger Swiss rival, UBS. In 2009, Baer spun off GAM as a separately listed firm. The acquisition of Merrill Lynch's wealth management operations outside of the US in 2012 increased Baer's assets under management by 40% and increased its footprint outside of Europe. Julius Baer is currently the largest pure-play private bank globally Baer provides private banking services principally to individuals in Switzerland and Europe and increasingly in Asia and other emerging markets. | $82 | +21% | $17B | $22B | 4.3x | - | ||
| VZ Holding AG offers financial advisory services for individuals and companies in many areas. It provides Independent, transparent advice, a Consultation process, and wide-ranging advice such as retirement, real estate, mortgages, shareholdings, and insurance advice. It generates the majority of its revenue from management fees on assets under management. | $184 | -17% | $7B | $6B | 7.5x | 14.4x | ||
| Vontobel Holding AG specializes in asset management, wealth management, and digital investing services. It operates through two business segments: The Institutional Clients: This segment focuses on sovereign wealth funds, pension funds, insurance companies as well as banks and other intermediary distribution partners. ii) The Private Clients: This segment serves wealthy private clients (including UHNWIs), family offices, external asset managers and other partners with a wide range of services, including the offering of structured solutions. The majority of the company's revenue is derived from its private clients segment. | $89 | +9% | $5B | $8B | 4.2x | - | ||
| HBM Healthcare Investments Ltd is a Switzerland-based holding company. The firm actively invests in the human medicine, biotechnology, medical technology, and diagnostics sectors and related areas. The company holds and manages an international portfolio of companies. | $301 | +38% | $2B | $2B | 6.1x | - | ||
| Basellandschaftliche Kantonalbank is a future-oriented bank that provides retail and commercial banking services to private customers and corporate customers. It also provides private banking services and real estate-related services. | $1,367 | +17% | $770M | $12B | 23.5x | - | ||
| Novavest Real Estate AG is a Swiss real estate company. It is engaged in construction, acquisition, sale, holding, conversion and management of all types of real estate in theSwitzerland. The company manages and develops properties for residential use, office and commercial use as well as on new construction projects. | $54 | +10% | $549M | $1B | 22.3x | 22.6x | ||
| Private Equity Holding AG offers institutional and private investors the opportunity to invest in a broadly diversified private equity portfolio within a simple legal and tax-optimized structure. The company's investment is managed by Alpha Associates. Their business model consists of Investing in Private Equity Fund, Acquisition of Fund interest on the Secondary markets, and direct co-investments. It has a presence in the United States of America, Europe, and the Rest of the World. | $81 | -9% | $197M | $215M | (13.8x) | - | ||
| Bellevue Group AG is a Switzerland-based company operating in the finance industry. It is principally engaged in the field of asset management and wealth management. The business operates in one segment. The segment consists of the operating business units Bellevue Asset Management, StarCapital, and Bellevue Private Markets. It focuses on managing equity portfolios for selected sectors and regional strategies. | $9 | -4% | $125M | $64M | 1.0x | 6.8x | ||
| Alpine Select AG is an investment company to obtains capital appreciation from investments in core investment strategies: discount-risk-arbitrage, tactical exploitation of under-researched companies/situations, short-term opportunities, liquid hedge funds, and digital assets. | $12 | +21% | $97M | $100M | 6.3x | - | ||
| Nebag AG is an investment company. The company invests in unlisted companies that are listed on the BX Swiss or SIX Swiss Exchange. Furthermore, the company offers debt facilities for suitable companies. It prefers to invest in unlisted blue chips and listed small and mid-cap companies. | $8 | -4% | $70M | $70M | 37.9x | - | ||
| Valartis Group AG is a financial group. The business lines of the company comprise the activities of Financial Services, Real Estate Project Management, and Equity Investments. It focuses on the comprehensive management of niche funds and investment activities. The company provides corporate finance advisory services for listed and unlisted medium-sized companies. The Real Estate activities consist of the management of profitable commercial and residential properties, with the investment in development projects. Geographically, the Group operates in Switzerland, Europe, and Other regions. | $13 | -12% | $39M | $65M | 11.1x | - | ||
| Castle Private Equity AG is engaged in private equity investments. Its investment policy aims at maximization of the long-term value advancement by way of realizing the Group's funds by harvesting the portfolio of private equity investments as their underlying assets are realized. The company has a geographic presence in Asia, Europe, North America, and Others. | $4 | -8% | $39M | $39M | 12.6x | - | ||
| EEII AG operates as an investment company. The investment objective of the company is to maximize long-term returns to shareholders through investments in strategically selected companies in the energy and infrastructure sectors which are active in emerging markets. | $1 | -52% | $2M | $2M | - | (1.4x) | ||
| DFO Capital SA is a company engaged in specializing in the field of provision of advisory services as well as the acquisition, management, brokerage and sale of investments. | $1 | -36% | $648K | $648K | - | - | ||
| Median | $68 | -4% | $373M | $708M | 6.9x | 14.2x |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
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