Alternative asset managers from Blackstone Inc. to KKR & Co. are increasingly targeting wealthy individuals as a pool of capital to tap, with institutional funding from pension funds slowing. Capital Group and KKR partnered to debut two funds for wealthy investors in the first half of next year that will invest across public and private debt markets.
Apollo Global Management Inc. is looking to boost hiring in the Asia Pacific region as it seeks to grow assets from wealthy clients.
“We plan to double headcount for private wealth in Asia Pacific in next two to three years,” said Edward Moon, head of Asia Pacific global wealth management, adding that hiring will mostly come from Japan, Korea and Australia. It will also continue to build out the firm’s teams in Singapore and Hong Kong, Moon said in an interview.
