Expand global exposure and investment capabilities to meet the needs of Asian wealthy investors, with new Asia offices to be opened
LJ Partnership, the London-headquartered private wealth and real estate partnership backed by the Hong Kong family-owned private entrepreneurial company the Peterson Group, has announced that Dilmun, a New York-based family office originally from The Gulf, has acquired a 40% equity stake in its business. The significant investment by Dilmun broadens the firm’s global shareholder base to span across the Far East, the Gulf and the Americas. To be rebranded as Alvarium Investments in 2019, LJ Partnership is planning new offices in markets including New York, Singapore, Sydney and Auckland as the firm expands into new geographies worldwide aspiring to build a new global boutique platform to meet the needs of Asian high net worth families and institutional investors. LJ Partnership currently supervises in excess of US$15bn of assets on behalf of individuals, family offices, foundations and charities.
The significant investment from Dilmun is accompanied by a series of recent high profile appointments. Ken Costa, formerly Chairman of Lazard International, Global Head of M&A at UBS and Chairman of Europe, Middle East and Africa at UBS Investment Bank, and Ali Bouzarif, the former Head of Investment Execution at the Qatar Investment Authority and former non-executive director of Heathrow Airport, Canary Wharf (formerly Songbird Estates), American Express GBT and Accor, will become Partners and shareholders in the Group. These high level appointments will significantly bolster the Group’s investment capabilities to include M&A, private equity, technology and advisory, which will supplement its already strong position in direct real estate and public markets.
The Peterson Group in Hong Kong, a strategic investor in LJ Partnership since 2015, currently holds a 35% stake in the Group.
Tony Yeung, Managing Director of Peterson Group said: “We are excited to have Dilmun joining us as another major shareholder in LJ Partnership which would help us complete the global strategy of the firm. Ken and Ali will accelerate our evolution to leverage off their past experiences to include new investment strategies thereby increasing exposure to a wider international base of private, institutional and sovereign capital. LJ has established an outstanding track record in alternative investment. Peterson would continue to deploy capital through LJ to diversify globally outside of Hong Kong alongside with Asian like-minded families.”
LJ Partnership has also announced additional senior management changes. Co-Chairman Andrew Williams (formerly CEO) is currently focused on driving the firm’s growth in Asia and Australasia. Alexander de Meyer (formerly COO) has been appointed CEO and is based in London.
The Group’s global expansion coincides with an unprecedented pace of wealth creation in Asia. It is estimated that the assets of high net worth investors in Asia-Pacific will reach US$40 trillion by 2025[1]. Driven by macroeconomic factors and the need for diversification, wealthy families and institutional investors in Asia are increasingly looking at investment opportunities outside of their home countries. LJ Partnership is responding to this trend by developing proprietary deal flow targeting Asian capital by building on the Group’s heritage, performance, global manager research platform and through the introduction of new investment strategies.
Alexander de Meyer, CEO of LJ Partnership, said: “Asia Pacific represents perhaps the world’s most dynamic region for investors and investment attitudes, and will continue to lead global wealth creation. LJ Partnership is exceptionally well-placed to help our Asian clients — both family office and institutional — to research and allocate to attractive global investment opportunities in public and private markets. To be able to match capital from Asia, the Americas, Europe and the Gulf and to transact quickly allows preferred access to direct deal flow and co-investment for our Asian client base.”
Andrew Williams, Partner and Co-Chairman of LJ Partnership, said: “LJ Partnership has achieved an impressive track record particularly in real estate investments in the past. We invest in partnership with our clients by selecting assets with strong underlying fundamentals and niche managers with proven track records of delivering solid private equity returns from property. Our new global strategy will be much more expansive offering new areas including M&A, private equity, technology and advisory to our clients, particularly in Asia. With the Peterson Group and Dilmun as our major shareholders we will continue to build on the success of this global co-investment model as we enter a new phase of development.”
LJ Partnership currently has offices in London, Hong Kong, Miami and Geneva.
[1] Capgemini’s 2017 Asia-Pacific Wealth Report
Notes to Editors
For more information, please contact Strategic Financial Relations Limited:
Ingrid Cheng: +852 2864 4836 / Ingrid.cheng@sprg.com.hk
Yoko Li: +852 2864 4813 / yoko.li@sprg.com.hk
About LJ Partnership
Established in 2009, LJ Partnership advises clients on financial assets and real estate allocation in public and private markets. Bringing together experienced professional investors from multiple disciplines, LJ Partnership serves the interests of its clients and partners, delivering investment and administration services as well as acting as both a trusted advisor and principal co-investor. The Group employs 200 staff at eight offices across Europe, US and Asia providing investment and administrative services through three key divisions: (1) direct investment, (2) investment management, and (3) trust & administration including private office. Offices are located in London, New York, Miami, Hong Kong, New Zealand, Geneva, Lisbon and the Isle of Man.
LJ Partnership has US$15bn of assets under management in Europe, Asia and the Americas. To date, the firm has invested over US$3bn of equity, primarily in real estate, and its realised track record shows a net IRR of 25%. LJ Partnership is regulated in six countries, including the FCA in the UK and the SEC in the US.
About Peterson Group
Peterson Group is a private company headquartered in Hong Kong with a focus in Property and Financial Investment. Peterson Property is the cross-border property arm of the group with investments across different regions and countries including Hong Kong, United Kingdom and Canada. Its portfolio consists of different asset classes including residential, office, retail, and hotels. Peterson Capital is the investment arm of the group which conducts investments globally in liquid and illiquid assets ranging from private equity, structured finance, public bonds and public equities across all industries.
SOURCE: LJ Partnership
