Citi Hong Kong and Singapore have announced strategic partnerships with global private market firms Blackstone, Blue Owl, and KKR to launch evergreen funds for high net-worth clients seeking enhanced wealth solutions and greater portfolio diversification.
According to an announcement, the partnerships will provide Citigold Private Clients in Asia and the Middle East access to private markets, including equity, credit, infrastructure, and real estate. These alternative asset classes have traditionally been reserved for institutional investors.
The funds will be structured in an evergreen format, offering simplified access to private markets with more flexible subscription and liquidity terms than traditional closed-ended private markets solutions, subject to a minimum initial holding period.
The funds have been launched will continue to be rolled out in the next few months.
Citigold Private Clients will be able to diversify their portfolios, capture opportunities for uncorrelated returns and long-term growth, as well as participate directly in the value creation inherent in private markets assets.
“This collaboration with Blackstone, Blue Owl, and KKR directly addresses that demand, providing sophisticated access to private markets that were once the exclusive domain of institutional and private bank investors. This is more than a product expansion, it’s a significant step in our commitment to delivering comprehensive wealth management solutions to our affluent clients, and empowering our clients to build long-term portfolios fit for the future,” said Vicky Kong, Head of Wealth, Asia North and Australia, Citi.
“We remain committed to expanding access to institutional-quality private market opportunities for Citi’s high-net-worth clients, helping them diversify their portfolios. Education is the cornerstone of our platform, and we look forward to deepening our partnership by providing enhanced resources and insights into private markets,” said Ed Huang, Head of Asia Pacific for Blackstone Private Wealth.
