Dunhill Ventures will set up its Family Office Network in Hong Kong, expanding its web of investment vehicles between wealthy families to the city in response to the invitation to establish a regional hub for wealth management.
Advertisement
The network, comprising a community of “thousands” of private investors, is considering locations around Asia to set up a social clubhouse to host in-person events for its members, with Hong Kong as a potential location, said Dunhill Ventures’ managing director Natalie Torin.
The network has “received a warm welcome here, and believes in Hong Kong as the preferred hub for business in Asia,” she said after attending SCMP’s Redefining Hong Kong: Family Office conference last week. “We want to actively bring ventures interested in the region to [set up in] Hong Kong, from hi-tech companies ready for an international company base to other areas like sustainability, education, healthcare.”
The London-based network is headed by Piers Dunhill, the great grandson of the English tobacconist and entrepreneur Alfred Dunhill, whose eponymous luxury goods company is now owned by Richemont.
Dunhill is the latest to consider establishing in Hong Kong. The city is already home to 2,700 single-family offices, more than half of them managing the fortunes of ultra-high-net-worth individuals exceeding US$50 million, according to Joseph Chan Ho-lim, the Under Secretary for Financial Services and the Treasury.
Advertisement