Switzerland's Partners Group has expanded its Asian presence with the opening of an office in Hong Kong.
The Hong Kong office in The Landmark, Central, becomes Partners Group's seventh office in Asia and brings its total number of offices worldwide to 21.
Partners Group, a global private markets firm, has appointed Henry Chui to head the Hong Kong office, in addition to his role as head of private wealth, Asia Pacific.
A spokesperson for Partners Group told FinanceAsia that it plans to have five to 10 people in Hong Kong by the end of 2024.
Chui (pictured) will manage a dedicated team focusing on the firm's client activities in Hong Kong and the Greater China Area and strengthening its existing network of client and investment partner relationships. A particular priority for the team will be expanding the firm's private wealth client base by adding strategic distribution partners locally for its suite of private markets solutions, including its evergreen funds.
The group has already made large investments into mainland China and Hong Kong over the last decade.
Kevin Lu, Partners Group partner and chairman of Asia, said in a media release: "We are very pleased to add a Hong Kong office to our regional footprint. As a major economic center and regional hub for the Greater Bay Area, Hong Kong has a key role to play for private markets."
Lu added: "We have seen a significant increase in investor appetite for private markets in the Greater China Area and look forward to deepening our relationships with clients and investment partners here."
Also in the release, Chui said: "Individual investors in Asia are increasingly looking to private markets as a means to access the real economy. Having boots on the ground in Hong Kong is important to provide local coverage to our distribution partners in the Greater China Area and complements our coverage across the rest of the region."
Partners Group first established its presence in Asia in 2004 with the opening of its Singapore office, which serves as the firm's regional headquarters. Today, Partners Group employs more than 550 people across the region in its offices in Manila, Mumbai, Seoul, Shanghai, Singapore, and Tokyo.
It has over 1,900 staff and around $150 billion of assets under management.
