Mirabaud & Cie

Investment decisions are led by the three Managing Partners — Lionel Aeschlimann, Camille Vial, and Nicolas Mirabaud — alongside the executive committee overseeing wealth management, asset management, and private equity. The partnership structure concentrates ultimate fiduciary responsibility with these named partners, each carrying unlimited personal liability for the firm's obligations. Day-to-day portfolio management is conducted by specialist teams in Geneva and London.

Mirabaud is a genuine hybrid. It is a Swiss private bank at its core, built for external wealthy families, yet it has been owned and governed by the Mirabaud family for eight generations. It behaves like a multi-family office through its Mirabaud Advisors unit, which handles wealth structuring and illiquid asset sourcing. The group also operates a significant asset management division with public-market strategies. It does not fit neatly into any single category.

Managing partners at Mirabaud are personally liable — their own assets are at risk alongside client capital. This aligns risk-taking and long-term balance-sheet choices with capital preservation in a way that shareholder-owned banks cannot reproduce. The structure prevents aggressive proprietary risk-taking and forces the partnership to maintain capital buffers well above regulatory minimums. It also concentrates decision-making authority in a small circle of partners with deep institutional memory.

Mirabaud's private equity group targets mid-market growth-stage companies in Europe and North America. Its known sector preferences include financial services, healthcare, and technology, with check sizes typically in the €10M–€50M range. Investment activity is concentrated in Switzerland, France, the UK, and Iberia, with occasional North American co-investments alongside established general partners.

Mirabaud engages in both direct investments and fund commitments. The firm runs a fund-of-funds program in private equity through its asset management division, offering clients access to a curated set of external managers. On the direct side, it co-invests alongside general partners and occasionally leads rounds through its own balance sheet. The Luxembourg office, opened in 2023, expanded Mirabaud's capacity to service alternative investment vehicles.

Mirabaud & Cie is the Mirabaud family's primary operating entity. The family does not publicly disclose separate holding companies, foundations, or investment vehicles beyond the bank and its subsidiaries. The partnership model embeds family ownership directly into the bank's governance, meaning there is no external family office running parallel strategies. Nicolas Mirabaud's role as Managing Partner serves as the active family governance link.

Mirabaud actively participates in co-investments, typically via its private equity and wealth management arms. It sources co-investment opportunities through long-standing general partner relationships in Europe and North America. The firm selectively presents these to qualified clients, operating as a gatekeeper rather than an open platform. Co-investment deployment is weighted toward later-stage growth and healthcare transactions.