PM Alpha, a London-based private markets platform for wealth and fund managers, has set up a business in Switzerland, with co-founder and chief investment officer Alexis Weber relocating to Zug to lead it.
The Swiss entity was established in September 2026, according to the company, and adds to PM Alpha’s existing presence in London, Dublin and Luxembourg. From Zug, Weber will focus on independent asset managers, multi-family offices and private banks in Zurich and Geneva, building on what the firm describes as an existing Swiss client base. The company did not disclose the size of that client base.
PM Alpha said it currently markets its offering in Switzerland through a regulatory partner and plans to establish its own regulatory presence over time. It intends to add staff recruited from the region, and said all UK directors’ responsibilities and regulatory obligations remain unchanged.
Demand beyond semi-liquid funds
Weber said Swiss clients’ needs differ from those the firm sees in the UK.
“Switzerland is one of Europe’s most important markets for cross-border wealth, with a largely high-net-worth and professional client base, alongside more complex structuring needs than you typically see among institutional investors,” he said. “Demand extends well beyond semi-liquid funds, with specialist strategies, vintage funds, co-investments and single-asset deals all much more common than in the UK.”
“Swiss clients are also interested in co-investments, individual real estate deals and single-asset structuring, which shows how broadly our infrastructure can be applied. When a family office has exclusivity on a transaction, it needs to reach its clients quickly and secure the right amount of capital. That is where we come in. Being on the ground means we can support those relationships more closely and respond to opportunities as they arise.”
A large cross-border market
Switzerland remains one of the largest centres for managing the wealth of foreign private clients. According to the Swiss Bankers Association’s Banking Barometer 2026, published in August, Switzerland was “still among the world leaders in cross-border wealth management for private clients in 2025”, with holdings up 7.6% year on year on a currency-adjusted basis at CHF 2,945.7bn.
The association said assets under management at banks in Switzerland reached a record high in 2025. Foreign customers’ assets grew by CHF 241.7bn, or 5.7%, outpacing growth in domestic customers’ assets, which the association said showed that Swiss banks “continue to enjoy the trust of foreign customers against a back-drop of geopolitical uncertainty and a strong Swiss franc”.
Independent asset managers, one of the groups PM Alpha is targeting, are regulated in their own right. Under the Financial Institutions Act, Swiss portfolio managers and trustees “must be licensed by FINMA in order to carry out their activities on a commercial basis”, according to the Swiss Financial Market Supervisory Authority, and are then subject to ongoing supervision by a supervisory organisation.
How the platform works
PM Alpha describes itself as an infrastructure-as-a-service platform for private markets. According to the company, it allows wealth managers to access and distribute alternative investment opportunities, and fund managers to reach wealth channels, through a single regulatory, operational and digital infrastructure covering vehicle structuring, investor onboarding, distribution and reporting.
The firm was founded in 2021. Companies House records show that Private Markets Alpha Ltd was incorporated on 26 October 2021. When the platform launched in September 2022, Hedgeweek reported that the business had raised close to £1m through private fundraising and planned to give wealth managers access to asset classes including alternative credit, venture and growth capital, private equity and real assets, as well as co-investments.
Hedgeweek reported at the time that Weber was previously EMEA head of private equity investments at Citi Private Bank. The founding team also included Tom Douie, whose experience ranged from Morgan Stanley and Neuberger Berman to serving as global head of distribution at Muzinich & Co, according to the same report.
Regulatory status
Private Markets Alpha Limited is an appointed representative of JTC GAS UK LLP, which is authorised and regulated by the Financial Conduct Authority, according to the company. The FCA’s Financial Services Register lists Private Markets Alpha Ltd under reference number 970004, while JTC GAS UK LLP appears on the register under firm reference number 551769.
Under the appointed representative model, a firm carries on certain regulated activities in the UK under the responsibility of an authorised principal rather than holding its own FCA authorisation. PM Alpha has not said when it expects to establish its own regulatory presence in Switzerland, where it currently relies on a local partner.
