Singapore - Future Wealth Management Centre of the World
In 1741, the accumulation of European wealth created a large flow of private wealth through the Swiss Rhine, leading to the establishment of Switzerland's first private bank, Wegelin & Co. Subsequently, Switzerland became the world's largest wealth management centre. Some 274 years later, a new large scale migration of private capital is underway, triggered by the rapid economic growth in Asia and tightening European regulations. This capital flow is making its way into Singapore and is rapidly turning the island state into a world class wealth management centre. By 2020, some estimates predict that Singapore will begin to overtake Switzerland as the largest private banking centre of the World.
A Pan-Asian Private Equity Fund based out of Singapore
The modern Asia Private Equity industry started during the Asian Financial Crisis when two Private Equity houses, UBS Capital and CVC, made the US$221m LBO of Mando Climate Control in 1999 in Korea. Houghton Street Partners is the first independent mid-market Pan Asia buyout fund to be founded and based out of Singapore with strategic clarity to benefit from the insights of Singapore developing as the largest wealth management centre and the growth of Asian Private Equity as well as Singapore's impeccable reputation. Today, Houghton Street Partners has built one of the earliest foundations and infrastructures for an experienced Private Equity team with the ability to operate Asia-wide with investment professionals from eight nationalities. With an unbroken 24 years of private equity experience, members of Houghton Street Partners make investment decisions with the benefit of the hindsight and intuition forged through disciplined control-oriented investing through five cycles of economic crises over the last two decades. Our intimate knowledge of Asia buyouts and proven track record of superior returns with minimum variance have earned us the trust and respect of sophisticated global investors including family offices, university endowments, pension funds and financial institutions. Houghton Street Partners is always looking ahead and we are proud to be one of the first Private Equity funds in Asia to adopt an integrated philanthropy programme focusing on education, healthcare and humanitarian aid.