Digital wealth management platform Endowus has joined forces with EQT, the third-largest private equity firm in the world, providing private wealth clients in Singapore and Hong Kong access to EQT’s funds.
EQT’s alternative solutions are now available through the Endowus platform, together with other solutions from Balyasny, Brevan Howard, Bridgewater, Carlyle, Eisler, Hudson Bay, KKR, Millennium, Oaktree, Partners Group, Point72, Quantedge, Schonfeld and World Quant.
In an Oct 4 announcement, Endowus says it has nearly tripled the number of accredited investors on its Singapore platform since 2021. Collectively, the Endowus Group manages approximately US$5 billion ($6.87 billion) in total assets today.
EQT was founded in Stockholm in 1994 with backing from the Wallenberg industrial conglomerate. With offices in 20 countries across Europe, the Americas and the Asia Pacific, EQT is today one of the largest and most active private investors within infrastructure, healthcare, and technology, managing more than EUR224 billion ($322.18 billion) in assets as of September.
Samuel Rhee, co-founder and chief investment officer of Endowus, notes the low correlation of private market investments to traditional asset classes and public markets. “[This] allows investors who seek to further diversify their portfolios and reduce overall risk in volatile market periods.”
He adds: “Our goal with Endowus Private Wealth is always to provide our clients with a curated selection of the best-in-class alternatives solutions, allowing investors to personalise their exposure with private investments into bite-sized, diversified portfolios to improve risk-adjusted returns.”
See also: EQT Impact Challenge offers platform for impact entrepreneurs to attain 'patient capital'
Sueann Yeo, head of APAC private wealth client relations and capital raising at EQT, says private markets have a huge potential to outperform traditional portfolios. “We believe that private investments offer good risk-adjusted returns, and can provide additional stability and diversification. However, choosing the right investment remains a critical part of an investor’s strategy and performance. We’re thrilled to be part of Endowus Private Wealth offerings as it aligns with our vision to help investors realise the vast potential of private markets.”
In October 2022, Endowus acquired a majority stake in Carret Private Investments Limited, a Hong Kong-based wealth manager and multi-family office.
In April, Endowus expanded into Hong Kong, its first foray overseas, becoming the first fee-only, non-commission-based digital wealth management platform there.
See also: Endowus acquires majority stake in Hong Kong multi-family office Carret Private Investments
In August, Endowus announced it had raised US$35 million from Citi Ventures and MUFG Innovation Partners, along with “four of Asia’s wealthiest families”. Existing investors that returned for the latest funding round include UBS Next, EDBI, Naspers’ Prosus Ventures, Lightspeed Venture Partners, Singtel Innov8, as well as Endowus employees.
Investors in Hong Kong can build single and multi-fund portfolios via the Endowus Fund Smart solution, which offers over 140 best-in-class funds across asset classes such as money market, fixed income, equity, multi-asset and commodities.
Meanwhile, Endowus Private Wealth clients can gain access to alternative strategies such as hedge funds, private equity, private credit and private real estate.
Founded in 2017, Endowus has raised a total of US$95 million. Its entities are licensed by the Monetary Authority of Singapore and Securities and Futures Commission of Hong Kong.
