Global private equity and investment advisory firm CVC Capital Partners has completed its acquisition of a 68% equity interest in Affin Hwang Asset Management.
The transaction, Affin Hwang says, will provide it with a springboard to chart the next growth phase of its wealth platform and spur its digitalization efforts aimed at enhancing client experience. The company will also embark on a rebranding exercise to be completed by the end of this year.
“The synergy from our partnership with CVC, and our longstanding partner Nikko Asset Management, will allow us to expand our capabilities and broaden our suite of offerings,” says Teng Chee Wai, Affin Hwang’s managing director. “This includes leveraging on CVC’s expertise in private markets and alternative asset classes to drive growth in our wealth management business and spearhead new digital solutions.”