Hamilton Lane, a US-based asset management firm, is set to distribute all six of its open-ended private-market funds in Taiwan, Bloomberg reported.
The company, which manages assets of over $1tn, aims to expand its client base in Taiwan beyond local insurers to include high-net-worth individuals.
Working with onshore banks, it will sell its funds to Taiwanese clients, through the sandbox wealth zone in Kaohsiung, along with other cities.
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This move is said to provide access to local investors to alternative assets such as private senior credit, infrastructure and private equity.
Bloomberg quoted Hamilton Lane Greater China solutions head Shannon Chow saying: “We are seeing similar expansions in the private wealth channel among our peer group to capture the opportunity set in Taiwan.”
Kaohsiung’s special wealth zone is said to enable banks to provide private equity along with other alternative products through simple channels.
It allows the banks to bypass the usual product-approval process in some cases.
Other firms, including Cathay United Bank and Standard Chartered, have also introduced private-market products in the city, the report said.
In October this year, Hamilton Lane announced its entry into the Taiwanese market, outlining plans to launch evergreen investment vehicles.
The company said that new funds will be launched through both the Kaohsiung Zone of the Asian Asset Management Center and traditional distribution routes.
Hamilton Lane announced the expansion of its presence in the Middle East by launching an office in Dubai, in February this year.
The new Dubai International Financial Centre (DIFC) office is part of Hamilton Lane’s expansion to better cater to its regional clients.
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