Hong Kong & Singapore, (26 September 2019) – To accelerate business growth, Carret Private Investments Limited (“Carret Private”) and Lumen Capital Investors Pte. Ltd. (“LCI”) have finalized an agreement to merge in the fast-growing multi-family office segment in Asia. Carret Private operates through its wholly owned HK-based subsidiary Carret Private Capital. The cooperation extends to several areas, such as portfolio management, research, business development as well as operational optimization.
Carret Private and LCI share a similar investment philosophy which focuses on providing high-end investment and wealth management solutions to create long-term value for high net worth individuals. It is expected that the merger between the two firms will give rise to new business and investment opportunities in the near future. For the time being, Carret Private and LCI will continue to operate in their respective markets under their existing name brands. Together, Carret Private and LCI have in excess of USD 2 billion in assets under management.
Wilfried Kofmehl, founding Partner of LCI said, “The merger of our two firms will help us to continue the strong growth that we have achieved over the last decade. I am delighted to work with Carret Private. I have known the CEO Kenny Ho for over 13 years when we were both founding members and executive board members in establishing Bank Julius Baer’s presence in Asia.”
Carret Private Managing Partner Kenny Ho observed: “North Asian clients are increasingly looking for investment and custodial solutions in Southeast Asia. We believe that given its strategic positioning in Singapore, LCI is perfectly situated to enhance Carret Private’s overall value proposition. Additionally, Carret Private and LCI have a complimentary range of investment solutions.”
About Carret Private Investments Limited (“Carret Private”)
Carret Private is a multi-family office asset manager focused on wealth management, principal investments and corporate advisory. The company’s subsidiary, Carret Private Capital Limited, is licensed by the Hong Kong Securities and Futures Commission to conduct type 1 (dealing in securities), type 4 (advising on securities) and type 9 (asset management) regulated activities under the Securities and Futures Ordinance.
About Lumen Capital Investors Pte Ltd (“LCI”)
LCI is a multi-family office asset manager focused on wealth management and corporate advisory. The company is based in Singapore and holds a Capital Market Services License under the Singapore Securities and Futures Act.