Hong Kong-backed wealth manager LJ Partnership eyes expansion after pulling Gulf investment
With new Gulf shareholder Dilmun, the London-based multi-family office targets to grow Asia-Pacific assets under management to US$10 billion by 2021
LJ Partnership, a real-estate focused multi-family office backed by Hong Kong’s Peterson Group, plans to expand into Australia and Singapore as it seeks to build itself into a global wealth management platform channelling the growing pool of Asian families’ capital into cross-border projects.
Partner and co-chairman Andrew Williams said LJ Partnership is looking to grow its Asian assets under management to US$10 billion by 2021, from US$1.5 billion today, after a Gulf investor – the New York-based family office Dilmun – last month took a 40 per cent stake in the London-based wealth manager.
LJ Partnership will also rebrand to Alvarium Investments in 2019.
Williams refused to divulge Dilmun’s investment. Currently, LJ Partnership manages overall assets of US$15 billion on behalf of family offices, foundations, charities and individuals across both real estate, and fixed income and equity securities.
“We want to reach the growth target for Asia-Pacific partly through opening new businesses in Australia and Singapore, and partly through acquisitions to build out our own in-house boutique investment capabilities that would include mergers and acquisitions, and subsequently private equity and technology,” said Williams.
Last month, Ken Costa, a former global head of M&A at UBS, joined LJ Partnership as partner and shareholder.
