Swiss Investment Giant Partners Boosts Asia Presence with New Hong Kong Office

00:00

00:00/00:00

Listen to this article 1x

According to Boston Consulting Group, in 2022, Switzerland managed $2.4 trillion in wealth assets, holding the top global position, with Hong Kong trailing slightly at $2.2 trillion

Partners Group Holding AG opened an office in Hong Kong on Friday, as the Swiss private equity giant intends to expand its presence in the burgeoning wealth management market of Asia.

The Hong Kong office will allow Partners to tap the city’s large private equity and investment talent pool, and serve as a gateway for the mainland market, said Henry Chui, Partners’ private wealth head in Asia Pacific. Chui is to lead the Hong Kong office.

You've accessed an article available only to subscribers

Subscribe today for just $.99.

VIEW OPTIONS

Unlock exclusive discounts with a Caixin group subscription — ideal for teams and organizations.

Subscribe to both Caixin Global and The Wall Street Journal — for the price of one.

Share this article

Open WeChat and scan the QR code

DIGEST HUB

Digest Hub

Back

Explore the story in 30 seconds

Partners Group Holding AG opened a new office in Hong Kong to expand in Asia's wealth management market.
By the end of 2023, Partners managed $147 billion in assets with 21 global offices, including 7 in Asia.
Hong Kong, projecting growth surpassing Switzerland by 2027, is set to increase its wealth management assets to $3.1 trillion.

AI generated, for reference only

Who’s Who

Partners Group Holding AG: Partners Group Holding AG, a Swiss private equity giant, opened a new office in Hong Kong to expand its presence in Asia's wealth management market. Founded in 1996, the company now operates 21 offices worldwide, including seven in Asia, with Singapore as its regional headquarters. By end 2023, it had $147 billion in assets under management and over 1,900 employees. The Hong Kong office will focus on sales, complementing investment research conducted at the Shanghai office.

UBS Group: According to the article, Sergio Ermotti, CEO of UBS Group, commented on Hong Kong's growing wealth management sector during a speech at the University of Lucerne. He noted that Hong Kong's sector is growing at an annual rate of 7.6% and is projected to overtake Switzerland by 2027 to become the leading global wealth management hub.

Boston Consulting Group: Boston Consulting Group (BCG) is a global management consulting firm. According to the article, BCG reported that Switzerland managed $2.4 trillion in wealth assets in 2022, making it the global leader, while Hong Kong trailed with $2.2 trillion. BCG projects that by 2027, Hong Kong’s wealth management assets will rise to $3.1 trillion, surpassing Switzerland's expected $2.8 trillion.

AI generated, for reference only

What Happened When

1996：: Partners Group Holding AG was founded in Switzerland.

2004：: Partners Group set its foothold in Asia.

2022：: Switzerland managed $2.4 trillion in wealth assets, with Hong Kong trailing at $2.2 trillion, according to Boston Consulting Group.

By the end of 2023：: Partners Group's cumulative assets under management reached $147 billion, with more than 1,900 employees worldwide.

May 18, 2024：: Sergio Ermotti, CEO of UBS Group, delivered a speech at the University of Lucerne, noting Hong Kong's growing wealth management sector.