Swiss private equity giant Partners Group opens Hong Kong office with eye on rich clients
- Hong Kong is the 21st office in Partners Group’s global network, which the private-equity firm plans to use as a stepping stone into mainland China
Switzerland-based private-equity giant Partners Group has opened an office in Hong Kong, becoming the latest investment firm to expand its wealth management business in the city.
Partners Group plans to use Hong Kong as a gateway to invest in mainland China, with the office to be headed by veteran fund manager Henry Chui.
“Given that Hong Kong is one of the largest global financial centres in the world, opening an office is a great way for us to develop our business further in the region by tapping the talent pool here,” Chui, who is also the head of private wealth for Asia-Pacific, said in an interview with the Post.
UBS, the biggest lender in Switzerland, and peers Julius Baer and EFG International, as well as Citigroup, HSBC and OCBC’s private banking unit Bank of Singapore, have expanded operations in Hong Kong to tap high-net-worth clients in the Greater Bay Area, comprising Hong Kong, Macau and nine mainland Chinese cities.
Zug-based Partners Group, founded in 1996, had US$147 billion of assets under management last year. It focuses on companies that have not yet listed, including private equity, private real estate, private infrastructure and private debt.
Hong Kong is its 21st office globally. Besides its Asia-Pacific headquarters in Singapore, it has operations in the region in Shanghai, Seoul and Tokyo.