PKB Private Bank

CEO Luca Soncini oversees the bank's overall strategy, including its investment and advisory divisions. PKB's investment committee governs asset allocation and manager selection across public and private markets. The bank operates a decentralized advisory model where senior relationship managers in Lugano, Geneva, and Zurich tailor portfolios to individual client mandates.

PKB sources private market investments through its network of Swiss and European general partners, as well as through co-investment clubs with other Swiss private banks. The bank's corporate finance desk also originates direct credit opportunities from its middle-market corporate clients. Lombard lending relationships often serve as a first-loss filter, surfacing family-owned businesses and entrepreneur-backed ventures that later become private equity or credit exposures.

PKB participates in direct co-investments alongside European private equity managers, typically through its private banking client base rather than a dedicated institutional co-investment program. The bank's permanent capital structure — funded by deposits and equity — allows it to commit to illiquid co-investment vehicles without the redemption constraints that face open-ended fund structures.

PKB is a licensed Swiss bank with both private banking and asset management functions. The asset management arm runs discretionary mandates across traditional and alternative asset classes, while the private banking division provides advisory, custody, and Lombard lending services. This dual structure allows PKB to serve as both a product manufacturer and a distributor — placing its own funds alongside third-party manager offerings.

PKB's real estate book includes Swiss residential and commercial properties, often sourced through its private client network rather than through blind-pool real estate funds. The bank also participates in property-backed lending, extending credit against Swiss real estate holdings for entrepreneurs and family offices. This lending-first approach gives PKB visibility into the Swiss property market that pure asset managers lack.

PKB is regulated by the Swiss Financial Market Supervisory Authority (FINMA) as a licensed bank and securities dealer. Client deposits are protected up to CHF 100,000 under the Swiss deposit insurance scheme. The bank's regulatory status requires it to maintain capital buffers and liquidity ratios that independent asset managers and family offices do not face — constraining risk-taking but also providing a permanent capital base that outlasts market cycles.

PKB allocates to hedge funds primarily through third-party managers, selecting strategies that complement its direct private equity and credit books. The bank favors long-short equity, event-driven, and credit-opportunistic strategies that align with its broader alternatives portfolio. Hedge fund allocations are typically offered through discretionary mandates rather than as standalone products.