Bank Bonhôte is buying Nyon-based real estate fund management firm Fidfund, together with the Swiss subsidiary of asset servicing bank Caceis, part of France's Crédit Agricole. The Swiss bank, led by CEO Yves de Montmollin, didn't disclose financial details of the deal.

Fidfund's 12 staff manage three real estate funds and provides services for another three funds; its assets total 3.5 billion Swiss francs. The firm has managed the Bonhôte property portfolio since 2006. The move represents an expansion of the private bank's property expertise to the full investment process, which is attractive to Swiss investors because dividends and assets are tax-exempt.