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Asia is expected to supplant Europe as world’s second largest UHNWI hub by 2024, a dynamic that has caught the attention of private markets.
Credit Suisse’s head of private banking for Asia, François Monnet, has said the firm recommends UHNWIs allocate up to 25% to alternative asset classes.
The Berlin fintech last month snapped up Winson Ng, former head of UBS Wealth Management’s PE team, and Sweta Chattopadhyay, former head of PE at bfinance.
The pandemic has upended high-net-worth investors in the region’s near- to medium-term appetite for alternative asset classes.
Corporate pensions, family offices and high-net-worth investors are increasingly making up a bigger share of capital commitments.
Millennials are due to inherit $30 trillion so smart firms are prioritising ESG, says Anthony DeCandido, partner and financial services senior analyst at RSM.
The €25.7bn firm is in market with at least seven funds and has promoted its Iberia head to concurrent head of the UK.
Although HNWIs have not been precluded from acquiring positions in pre-IPO businesses via the secondaries market, the process can be complex and fraught with risk.
Hong Kong-based CLSA is seeking up to $100m from the likes of HNWIs and wealth managers to build a portfolio of pre-IPO tech unicorns, sister title Secondaries Investor understands.
Significant exposure to family office capital has prompted fundraising platforms to seek out impact opportunities.