“The opportunity set for us is to be the only non-bank global wealth service for large families,” said Robert Weeber, AlTi’s president of international wealth management.
AlTi Global Inc. has agreed to buy Singaporean money manager AL Wealth Partners, joining the rush of firms tapping the rapid rise of wealthy families in the city-state and across Southeast Asia.
The deal, whose value and terms weren’t disclosed, comes amid a surge in the number of multi-family offices in Singapore as more of the ultra-rich are lured by low taxes and relative stability. Industry experts estimate there are about 1,400 family offices in the city-state.
