Alti Global Buys Singapore Wealth Firm For Asia Expansion
- Alti adds Al Wealth Partners, with $1 billion under management
- Wealth firm seeks to expand family office business with deal
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AlTi Global Inc. has agreed to buy Singaporean money manager AL Wealth Partners, joining the rush of firms tapping the rapid rise of wealthy families in the city-state and across Southeast Asia.
The deal, whose value and terms weren’t disclosed, comes amid a surge in the number of multi-family offices in Singapore as more of the ultra-rich are lured by low taxes and relative stability. Industry experts estimate there are about 1,400 family offices in the city-state.