Boston-headquartered global investment firm Cambridge Associates (CA) is expanding its presence in Asia with plans of establishing an office in Hong Kong, according to a statement from the firm.
CA already has offices in Singapore and Beijing, which are led by Beijing-based Aaron Costello, regional head for Asia.
Globally, the firm provides investment portfolio management and advisory services to institutions and private clients. Within the private client segment, CA serves around 230 wealthy individuals and families, with each client having a minimum portfolio size of $100m, according to the firm’s website.
“Asia has long been a key market for Cambridge Associates and we continue to see strong demand in Hong Kong, mainland China, Singapore, and Southeast Asia for access to our portfolio management services and global investment network,” Costello told FSA.
“We’re seeing particular interest in alternatives, including private equity and venture capital investing, ESG and impact investing,” he added.
The Hong Kong office is expected to open later this year, Costello said. As of this writing, the firm does not yet have relevant SFC licences to provide regulated services in Hong Kong, according to records from the Securities and Futures Commission.
Edwina Ho, who was hired last month as senior director of business development for Asia, will be the first employee in the yet-to-be-established Hong Kong office. Ho is tasked to provide additional support to CA’s client base in Asia. Before CA, she was a Hong Kong-based investment director at Willis Towers Watson’s investment business in Asia.
The statement added that Mary Pang, the firm’s head of the global private client practice, was relocated to Singapore from San Francisco to accelerate the firm’s growth in the region, especially among private clients and family office. She continues to lead the private client practice globally, the firm noted.
CA’s Singapore office, which employs around 60 staff, was established in 2001 and serves as its central hub for researching Asian manager. The Beijing office was set up in 2011 and focuses on the needs of domestic Chinese institutions and ultra-high-net-worth family offices.
