Singapore’s digital wealth platform Endowus acquires Hong Kong’s Carret Private

SINGAPORE: Singapore-based digital wealth advisor Endowus has acquired a majority stake in Hong Kong-based wealth manager and multi-family office Carret Private Investments Limited, announced Monday (Oct. 17).

With the acquisition, the total assets under management of the Endowus Group – which includes Endowus licensed companies in Singapore and Hong Kong, as well as Carret Private – amount to over $ 4 billion (Singapore $ 5.7 billion) to tens of thousands of customers since the end of the first half of this year.

The group, through the minority shareholding of Carret Private, will also have a partnership with Lumen Capital Investors, a wealth advisor and multi-family office based in Singapore.

Lumen is founded and led by Wilfried Kofmehl, former CEO of Bank Julius Baer Singapore.
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