CARRET Private Investments (Asia) Limited ("CARRET Private" or "the Company"), an affiliate of CARRET Asset Management, LLC ("CAM"), a leading multi-billion dollar investment manager based in New York, is pleased to announce the merger of its Hong Kong private wealth management business with QL Asset Management Company Limited ("QL"). The merger is subject to relevant regulatory approval.
QL, a wealth management firm registered with Securities and Futures Commission of Hong Kong, was founded in 2015. Leveraging on its substantial and diverse global network of private and institutional investors, QL specializes in wealth management and hedge funds consisting of experienced experts in the financial, corporate and legal sectors.
CARRET Private and QL share a similar investment philosophy which focuses on providing high-end investment and wealth management solutions to create long-term value for ultra-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.
Kenneth Ho, a Managing Partner and one of the founders of the Company said, "We are very excited to merge our wealth management franchise with that of QL. CARRET has more than 50 years of history in creating long-term value for its clients, and we believe that the philosophy and track record of QL perfectly suits the needs of our clients here in the region."
oung Jeong Kim, Managing Partner of QL said, "The merger of our two firms will help us to continue the strong growth that we have achieved over the last year. We are confident that there will be many marketing synergies to expand into new markets."
CARRET Private is a multi-family office business and an affiliate of CAM. CAM was founded in 1963 by Mr. Philip L. Carret, seeking to provide personalized investment services. Philip Carret is a Wall Street icon and investment legend who pioneered the concept of value investing, who founded one of the world's first mutual funds, the Pioneer Fund, which he managed with great success for more than half a century.
About CARRET Private Investments (Asia) Limited
CARRET Private is a multi-family office asset manager focused on wealth management, principal investments and corporate advisory. The Company is an affiliate of CARRET Holdings Inc. ("the Company"), the parent of CARRET Asset Management, LLC ("CAM"), a leading multi-billion dollar investment manager based in New York and Quadrant Management, Inc., a principal investment management firm. For over 30 years, Quadrant has been managing investments for companies around the world and developed a successful track record of creating long-term value. Quadrant and its affiliates have offices in the U.S., Eastern Europe, China, Africa, India and South America.