The Business Times
business-time-50

Endowus acquires HK-based multi-family office, expands into ultra-wealthy market

google-preferred-sourceAdd BT as a preferred source
Genevieve Cua

Genevieve Cua

Published Mon, Oct 17, 2022 · 06:00 AM
    • Endowus CEO Gregory Van (left) and chairman and chief investment officer Samuel Rhee. The firm is expanding into the ultra-wealthy client segment with purchase of Hong Kong-based multi-family office Carret Private.
    • Endowus CEO Gregory Van (left) and chairman and chief investment officer Samuel Rhee. The firm is expanding into the ultra-wealthy client segment with purchase of Hong Kong-based multi-family office Carret Private. PHOTO: BT FILE

    DIGITAL wealth platform Endowus has acquired Carret Private, a Hong Kong-based multi-family office, giving it a foothold in the ultra high-net-worth (HNW) wealth segment of clients.

    Through Carret, it now also has a minority stake in another multi-family office, Lumen Capital Investors, based in Singapore. The deal has enlarged Endowus’ assets under advisory from around S$2 billion as at August this year to a total of US$4 billion.

    Endowus itself is a robo advisory platform. It has its own private wealth service to create customised solutions for HNW clientele.

    robo-advisorsHigh net worth individualsFamily offices

    TRENDING NOW

    Traffic through the strait has been resuming but with interruptions, and there is still little clarity over a permanent solution for passages through the chokepoint.

    Qatari LNG ship struck in Strait of Hormuz, testing US talks

    This comes after a Citi note on Tuesday that lifted target prices for all Singapore banks, with a leading preference and “buy” call for DBS.

    DBS shares rise 1.9% to hit all-time intraday high as sentiment improves

    Aster deputy CEO Andre Khor, citing the age of the “polycrisis”, says: “It’s very important to be agile, to be focused on execution… We don’t know all the answers but we keep going forward.”

    ‘Baptism of fire’: Andre Khor on leading Singapore refiner Aster through an energy crisis

    Singapore ranks as the world’s most expensive city for cars and placed third globally for residential property.

    Singapore retains top spot as most expensive city for HNWIs, with five Apac cities in global top 10

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More