Singapore Inc announced around $91b of overseas deals this year through Sept, more than double for the same period of 2017.
The latest UBS/Campden Wealth Global Family Office Report found that 32% of Asian family offices had succession plans under development. About 21% said they had no plan and 7% said they didn’t know.
Family offices are favoring higher risk, more illiquid investments in the pursuit of alpha.
While many asset managers have offices in Singapore, most of their funds are still registered in offshore jurisdictions.
GIC Pte CEO Lim Chow Kiat said the sovereign wealth fund has “some concerns” over increasing tech valuations.
At least eight family and multi-family offices in Asia have recently started, or are planning to start, investment funds that accept outside money.
The US investment firm and the Indian financial services provider are expected to deploy this sum over three years
Judah Value Fund also plans to bulk up in Singapore-listed Ramba Energy via a private placement that will be accompanied by a five-year call warrant for more shares.
The Singaporean state firm has been gradually exiting its positions in U.S. lenders as it focuses more on fintech and other new-economy investments.
Singapore’s state fund GIC Pte. has grown cautious on the global economy and is predicting lower investment returns in coming years.