Wealth planning group Lombard International Assurance has joined the Luxembourg Private Equity and Venture Capital Association (LPEA), as it looks to expand its expertise in alternative assets.

The group said of its €48.4 billion in client assets under administration, about 10 percent was held in alternative or “non-traditional” asset classes including PE, private debt, and real estate.

Lombard is a insurance-based planner and has a dedicated team which deals with onboarding, investing in and administrating alternative assets on behalf of clients, mainly comprised of high net worth families.

The LPEA has...