Nasdaq-listed Alti Tiedemann Global has completed the acquisition of Singapore-based independent wealth manager AL Wealth Partners (ALWP) for an undisclosed sum.
Alti, which already has a presence in Hong Kong, said that Anthonia Hui and Leonardo Drago, co-founders of ALWP, would spearhead the firm’s newly established presence in Singapore under the leadership of Robert Weeber, who heads up the international wealth management business.
The global wealth and asset manager said that the acquisition would combine Alti’s global research and infrastructure with ALWP’s local expertise. It also noted that Alti brings with it capabilities in philanthropy, an area of focus for the government in Singapore.
Alti, which was formerly called Alvarium Tiedemann, has $65bn (£52bn, €60bn) in assets under management.
Michael Tiedemann, chief executive of Alti, said: “This deal executes on our long-term growth strategy focused on complementary and accretive acquisitions in core growth areas. With the local expertise and knowledge that ALWP brings and Alti’s focus on tailored advice and impact solutions, the combination offers a truly differentiated approach to wealth and asset management to Singapore.”
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