Family offices Asia recycling fund backing helped Circulate Capital secure a USD220m first close for Circulate Capital Asia II, giving the Singapore-based investment manager more than 70% of its USD300m target for a vehicle focused on scaling circular supply chains and recycling businesses across South and Southeast Asia. Backers include Builders Vision, Stella, Clotho Family Office, Wire Group and Fondation Prince Albert II de Monaco. The first close exceeds Circulate Capita

Blue Pool Capital private equity fund activity has entered a new phase as the Hong Kong-based multi-family office and investment firm co-founded by Alibaba billionaire Joe Tsai raised USD1bn for its first private equity fund, Riverside Fund, marking an expansion beyond multi-strategy investing. The firm was founded by Tsai and former Alibaba executives and is led by CEO Oliver Weisberg, a former Goldman Sachs banker and former Citadel partner in Hong Kong. Weisberg previously

Full Vision EnerVenue investment has led a USD300m Series B+ preferred stock financing round in US energy storage firm EnerVenue Holding, backing the battery maker it originally incubated as it expands manufacturing and commercial operations. The investment brings California-based EnerVenue’s total funding to USD445m. The company develops aqueous metal cell batteries for long-duration grid storage, a technology adapted from aerospace applications. Proceeds will support resear

Asia family offices turned more cautious in 2025, with expected average portfolio returns falling to 6% from the 10% respondents had anticipated in 2024, as market volatility and concerns over US tariffs and fiscal policy clouded the outlook, according to Campden Wealth and BNP Paribas Wealth Management. Cash was seen as the most rewarding asset class over the next 12 months, while private markets still made up 24% of average portfolios, second only to public equities at 27%.

Circulate Capital Asia fund has raised USD220m for the first close of its second Asia vehicle, defying a broader pullback in ESG investing. Singapore-based Circulate Capital said the first close of Asia Fund II brings total assets under management to USD480m. Backers include Builders Vision, the family office founded by a grandson of Walmart founder Sam Walton, alongside existing corporate investors such as Coca-Cola and new institutional backers, including the Emerging Marke

Hong Kong family office tax incentives are being promoted to Australian investors as the city pitches itself as a base for family offices through its gateway role to mainland China and Asia-Pacific, deep capital markets and favourable tax treatment. Officials said Hong Kong manages more than USD4.5tr in assets as the world’s second-largest cross-border wealth hub, while Hong Kong Exchanges and Clearing was the top venue globally for IPO fundraising in 2025. They also highligh

Asian family offices alternatives exposure is deepening, especially in private equity and hedge funds, although some investors in the region have at times become overexposed because of their flexibility in deploying capital, Morgan Stanley Private Wealth Management Asia’s Christina Au-Yeung said. She said Asian families were still in the early stages of building more institutionalised portfolio frameworks for alternatives compared with peers in North America and Europe. Au-Ye

Singapore family offices AI adoption is rising sharply in operations, though that has yet to translate into active investment in the sector, according to an Ocorian report. The study found 96% of 25 respondents, including family members and senior executives at Singapore-based family offices, were using AI to improve operations and data insights, yet none were currently seeking AI-related investment opportunities. Still, 64% said they expected to increase investments in AI an

Asia legacy planning remains weak, with nearly six in 10 high-net-worth individuals in the region lacking a formal plan, according to an HSBC Life report that highlighted risks to intergenerational wealth transfer. Only 24% of respondents in Taiwan had a legacy plan, followed by 26% in Hong Kong and 36% in mainland China, while Thailand led the surveyed markets at 57%. The report said economic and financial market volatility, cited by 45% of respondents, was a stronger trigge

Asia family office demand is accelerating as growing private wealth and rising intergenerational transfers push affluent families towards more structured approaches to succession and governance, Raffles Family Office said. Chief executive Kendrick Lee said the firm recognised the shift early and built a presence across Singapore and Hong Kong to capture cross-border investment opportunities and diversify regulatory exposure. He said family offices increasingly complement priv

Hong Kong family offices growth 25% underscores the city’s attraction for wealthy families, with Chief Executive John Lee saying more than 3,380 single-family offices are now based in the city, up 25% from two years ago. Speaking ahead of the Wealth for Good in Hong Kong Summit on March 24, Lee said more than half of these family offices had second-generation or later family members in leadership roles, showing long-term confidence in the city. The summit drew about 130 famil

Singapore family office talent risks are increasing as opaque pay structures and weak benchmarking make it harder to retain professionals in areas such as technology, AI and cybersecurity, according to a report by 101 finance. The report said Singapore’s family-controlled corporate landscape and lack of specific shareholder inspection rights helped sustain opaque pay practices, while firms were more vulnerable to poaching as employees compared compensation with more transpare

Dubai safe haven family offices are facing a meaningful stress test as prolonged conflict in the Gulf prompts some Asian family offices to reassess the emirate’s role as a neutral base for assets. Advisers said enquiries about shifting portfolios or setting up secondary offices in Singapore and Hong Kong had risen sharply as US-Israeli strikes on Iran stretched into a third week. Families were said to be prioritising contingency planning, liquidity and downside protection, wh

Family office geographic shift Europe Asia accelerated in 2025 as new wealth creation became more diversified, according to a FINTRX report. The report said real estate accounted for a smaller share of new family office wealth, while financial services gained modestly and investment activity broadened across sectors including technology, healthcare and specialised property. FINTRX tracked more than 1,500 direct investments in private companies and over 150 real estate deals a

Hong Kong wealth legacy academy board appointments have expanded as the institution added four new members from real estate, education, investment and hospitality. The academy named Sino Group chairman Daryl Ng Win Kong and YK Pao School co-founder Philip Sohmen as vice chairmen, while Chartwell Capital founder Ronald Chan Wai-yan and Dorsett Hospitality International chair Winnie Chiu Wing-kwan joined as board members. Chairman Adrian Cheng said the appointments would deepen

IBK family office service Korea has been launched by IBK Investment & Securities to target high-net-worth clients, with a focus on business succession for small and mid-sized enterprises. The IBK family office service Korea targets individuals with at least KRW5bn (USD3.6m) in financial assets and offers consulting on succession planning, inheritance and gifts, legal and tax matters, and real estate, alongside investment products linked to IBK Industrial Bank’s network. Chief

Middle East banks Hong Kong expansion is accelerating as geopolitical tensions push institutions and investors to diversify into Asia. InvestHK said more regional banks are considering setting up in Hong Kong, attracted by its low-tax regime and gateway role to China. Only four of the city’s 150 licensed banks are currently Middle East-based, but enquiries are increasing. The Middle East banks Hong Kong expansion trend is also supported by government efforts to attract family

Hong Kong family office tax push is gaining momentum as the Iran war dents Dubai’s appeal as a safe haven, prompting renewed interest from wealthy investors. Lawyers and consultants said enquiries have surged, with near-daily discussions with families considering setting up in the city. The government proposed expanding concessions to cover assets including gold, cryptocurrencies, private credit and overseas real estate, with legislation expected by June. Despite the momentum

Hong Kong family office allocations are expected to increase toward private equity and digital assets over the next three years, according to a report by the Hong Kong Institute for Monetary and Financial Research. The study found rising interest in private credit and venture capital as family offices expand alternative investment exposure. Based on a survey of 101 family offices conducted between October 2024 and April 2025, 44% of respondents managed at least USD1bn. Hong K

Family office philanthropy strategy is evolving as wealth passes to younger generations who are embedding structured giving more deeply into governance frameworks. Swiss private bank Pictet estimates about 17,000 family offices worldwide control more than USD10tr in assets, with nearly three‑quarters managing families’ philanthropy and impact ambitions. The shift is being reinforced by the great wealth transfer projected to reach USD70tr by 2045, with Cerulli Associates estim