HK’s CMBC invests in Asia wealth management biz of Carret Asset Management

Hong Kong-based CMBC International Holdings Limited (CMBCI) has invested in the Asian private wealth management business of Carret Private Investments (Asia) Limited, the company said in a statement.

The financial terms of the deal remain undisclosed.

“Carret has more than 50 years of history in creating long-term value for its high net worth clients, and we believe, that together with CMBCI, we can form a partnership to develop high end wealth management for Chinese clientele,” Kenneth Ho, Managing Partner and one of the founders of Carret Private Investments said.

Carret Private Investments (Asia) Ltd is an affiliate of Carret Asset Management (CAM), a multi-billion dollar investment manager based in New York.

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. He founded one of the world’s first mutual funds, the Pioneer Fund, which he managed with great success for more than half a century.

Meanwhile, CMBC International Holdings Limited (CMBCI), is a wholly-owned subsidiary of China Minsheng Banking Corp, the shares of which are listed on the Shanghai Stock Exchange and the Hong Kong Stock Exchange.

China Minsheng Banking Corp., Ltd. is a commercial bank established in China and together with its subsidiaries mainly provides corporate and personal banking, treasury business, finance leasing, asset management and other financial services in China.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.