In line with its current business activities and ambition to expand further as a global player, Privium is proud to announce that from September 1st this year it will open an office in Singapore. Located in the Central Business District area, the new office will work on both domestic and international fund launches within the Privium network.
After establishing the Hong Kong office in 2016, the reason for selecting Singapore as the next footprint in Asia is due to the international capital flows that are managed in Singapore and the domestic fund structures that will be a key driver for this growth. Furthermore, the launch of the Variable Capital Company structure earlier this year is a great opportunity for established and emerging fund managers to benefit from the financial grants available and from the cooperation treaties that Singapore has in place with various countries in the region. Established in 2008, Privium currently services over 70 portfolio teams with collective assets under management of over 2.5 billion and is looking at continuing its upward trajectory in 2021.
Privium’s Group CEO Clayton Heijman: “The success of Hong Kong as our hub in Asia led us to think of further expansion in the Asia Pacific region. With Hong Kong as our primary gateway into Mainland China, we were looking for an additional element to improve the service offering to our clients. Our exploration and research commenced around two years ago, and we are happy to have the right management and legal structure for us to start. Furthermore, the strong connectivity of allocators within Privium’s network in Asia and Europe will be a tremendous asset for fund managers in Singapore looking to leverage off our global presence and adept knowledge of investor preferences. Also, our team in Asia has the required language capabilities and the knowledge of the complex regulatory landscape to meet our clients’ needs within the Asia Pacific region. With business leads from the rest of our global network we are confident to hit the ground running.”
Since inception, Privium Hong Kong has seen a steady increase in the number of strategies on its platform, varying from the traditional equity long/short, global macro and relative value. Also, increasingly it has seen an increase in more illiquid strategies such as venture capital and private credit, indicating a greater interest in outsourcing operational activities to an institutional infrastructure provider while focusing on deal flow and sourcing of limited partners. In terms of asset raising, the Hong Kong market has seen a strong interest from traditional and new allocators who are expanding their allocation to Hong Kong and Singapore. Privium is currently onboarding investment structures with portfolio managers carrying out liquid quantitative strategies as well as illiquid direct investments. Investors require a solid infrastructure and a trusted business partner to the portfolio management team. The allocation of investments is often dependent on the outcome of the allocator’s operational due diligence. With the global diversification of investments, Asia is a key focus to them. Given the current landscape of investment opportunities, Privium expects this trend to increase rapidly in Hong Kong as well as Singapore.
Privium’s Singapore CEO How Teng Chiou: “After working in Singapore for over a decade and with my international experience in Hong Kong and London, I anticipated the need for an international player like Privium to establish itself here. The growth of new initiatives and need for an institutional setup is very much required in the current business environment. We will be able to cater to a variety of fund strategies both liquid and illiquid and to a growing demand for managed accounts driven by investor preference. Furthermore, given the various fund vehicles Privium has in place globally we will be able to meet our clients’ various needs for fund setups. Privium’s large network of early-stage investors across the world brings an attractive addition to the development of the Singapore market.”
Mr. Clayton Heijman – Group CEO, Privium Fund Management
Mr. How Teng Chiou – CEO, Privium Fund Management Singapore
Privium Fund Management (Singapore) Pte. Ltd.
OCBC Centre, 46-00
65 Chulia Street
+65-667 06 724
Privium Fund Management (Singapore) Pte Ltd is registered and regulated by the Monetary Authority of Singapore.
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