Singapore-based New Silkroutes Group has formed a joint venture CG Capital Partners, a New York-based fund manager, to offer fund management services, including financial products and asset-class-specific funds, to Asian investors.
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The JV called New Silkroutes Capital (NSC) will invest in a portfolio of US-dollar, Euro- and RMB-denominated structured products, which include equity-linked derivatives and equity-linked indices.
The JV asset management firm will be 70% owned by New Silkroutes Capital Pte. Ltd, a wholly-owned Singapore-based investment arm of NSG, while CG Capital Partners will own the remaining 30% stake.
The joint venture will also offer asset-management funds for specific verticals or asset classes, including energy/resource, healthcare, infocomm technology and real estate.
As part of the deal, Sean Rice, managing partner of CG Capital, will join New Silkroutes Capital in the Americas as managing partner, while NSG CEO Goh Jin Hian will chair New Silkroutes Capital’s board of directors.
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By GlobalDataNew Silkroutes Capital will mainly focus on institutional and private wealth in Europe, the Middle East and North Africa, and Asia, particularly China as well as partner with banks and insurance firms in Europe and Asia to offer and launch private-label funds.
New Silkroutes Capital intends to start operation in both New York and Singapore offices in March 2016.
The JV is planning to launch international units in London, Malta, Shanghai, Hong Kong, and Kuala Lumpur in 2016.
