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.
The Carret deal is another step forward in Endowus' expansion into Hong Kong. Earlier this year, it secured a licence from Hong Kong's...