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Hong Kong’s Single-Family Offices -- Part II: New Players

by trusted insight posted 2years ago 4952 views

Last week, Trusted Insight chronicled Hong Kong’s old-money single-family offices, firms that manage wealth for household names such as Li Ka-Shing and Chow Tai Fook Jewelry. This week, we are looking at a different, yet equally important, group of family offices in Hong Kong: the new players.

These is a more modern cadre of businesses that began outside of Hong Kong (including recent superstar companies from mainland China) and eventually moved their family financial functions to the region; younger family offices that originate wealth from non-traditional industries such as trading and e-commerce; and family offices with altruistic missions beyond seeking mere financial returns.

Here is part two of Hong Kong single-family offices:

 

Junson Capital
Year Founded: 2013
Family Represented: Cai Kui
Origin Of Wealth: Real Estate
Key Employee: Kevin Liu, CEO

Junson Capital was founded in 2013 by Cai Kui, the co-founder of Longfor Properties, a mainland China-based real estate developer listed on the Hong Kong Stock Exchange. The family office invests in real estate, financial assets and private equity. Earlier this year, Junson acquired a Hilton hotel in London’s Docklands for an unconfirmed £80 million from Bayside Capital, an affiliate of the private equity firm HIG.

Cai Kui was listed in 2016 as one of the 100 richest people in China by the Hurun Report, a widely recognized private wealth research firm in China.


Blue Pool Capital
Year Founded: 2015
Family Represented: Joseph Tsai, Jack Ma
Origin Of Wealth: E-Commerce, Internet
Key Employees: Alexander West, Partner; Danny Lee, Partner;  Oliver Weisberg, Partner

Blue Pool Capital is a multi-billion-dollar family office founded by Alibaba’s chairman Jack Ma and vice chairman Joseph Tsai. It also manages the fortunes of its Hong Kong-based co-owners Alexander West and Oliver Weisberg; a few close family friends; and Blue Pool’s advisory board members.


RS Group                     
Year Founded: 2008
Family Represented: Annie Chen
Origin Of Wealth: N/A
Key Employee: Annie Chen, Chairman

RS Group is a family office managing the wealth of Annie Chen, a Hong Kong businesswoman. The firm has a strong focus on impact investing. It sees itself as a “social enterprise” as Founder and Chairman Annie Chen called it.

The firm aims to develop Chen’s portfolio into a total impact portfolio by investing in and supporting for-profit businesses, social enterprises, not-for-profit organizations and initiatives that create social and environmental value while seeking to be a force for making our world more sustainable and just.

RS Group’s portfolio consists of traditional investment products, impact investments and venture capital. 
 

Wide Growth Investment      
Year Founded: 2012
Family Represented: A Malaysian Family
Origin Of Wealth: N/A
Key Employee: Jack Hon, Director

Wide Growth Investment’s portfolio spans from real estate, hedge funds, private equity and derivatives. Jack Hon founded the family office in 2012 and has served as director since. Jack has extensive experience in derivatives and structured investments. He was a former vice president at JP Morgan and a director at UBS, where he led the bank’s Hong Kong equity derivatives unit covering South East Asian institutional investors.


TCG Capital     
Year Founded: 2003
Family Represented: Eric Wong
Origin Of Wealth: Chemicals, Electronics
Key Employee: Eric Wong, Director  

TCG Capital is a family office established in 2003 by Eric Wong. in 1918, Wong’s family started business  operating in the chemicals and electronics industries. The family business began in Shanghai before expanding to Hong Kong in the 1950s and Taiwan in the 1970s.

TCG Capital’s Celera Group division was formed in 2012 to consolidate its financial markets holdings under TCG Capital. TCG also has a division called Vauban Group that engages in direct lending in the alternative finance space.
 

The Aria Group
Year Founded: 2012
Family Represented: Kevin Kwong     
Origin Of Wealth: Hedge Funds
Key Employee: Kevin Kwong, Chief Executive Officer

The Aria Group is an investment firm founded in 2010 by hedge fund manager Kevin Kwong. Before Aria he was a founding partner of Senrigan Capital Group, a Blackstone-seeded hedge fund based in Hong Kong.

Aria has three investment arms: Aria Capital Management, which invests with hedge funds, portfolio managers and proprietary traders; Aria Ventures; and Aria Labs, an in-house incubation platform.



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