DECEMBERASIA BUSINESS OUTLOOK8Singapore-based digital wealth advisor Endowus has acquired a majority stake in Hong Kong-based wealth manager and multi-family office Carret Private Investments, it announced (Oct 17th). With the acquisition, total assets under management of the Endowus group - comprising Endowus' licensed companies in Singapore and Hong Kong, as well as Carret Private - stands at more than $4 billion (S$5.7 billion) across tens of thousands of clients as at the end of the first half this year.The group, through Carret Private's minority shareholding, will also have a partnership with Singapore-based wealth advisor and multi-family office Lumen Capital Investors. Lumen is founded and led by Wilfried Kofmehl, former CEO of Bank Julius Baer Singapore. Singapore's Digital Wealth Platform Endowus Acquires Hong Kong's Carret PrivateNEWSROOMSTANDS AT MORE THAN $4 BILLION (S$5.7 BILLION) ACROSS TENS OF THOUSANDS OF CLIENTS AS AT THE END OF THE FIRST HALF THIS YEAR
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