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