CLSA looks to connect wealthy investors with unicorns
CLSA, the international arm of China-based brokerage CITIC Securities, has launched a strategy to offer high net worth clients investment opportunities in late-stage private companies in Asia.
The firm plans to link clients with unlisted securities made available by companies through direct secondary sales. It will build a broadly diversified portfolio of late-stage start-ups backed by leading VC investors with a focus on the digital economy, deep technology ecosystems, sustainability, and wellness and smart healthcare. Target companies must have valuations in excess of $1 billion.
CLSA's structured investment team is responsible for the strategy. It is working in partnership with Hong Kong-based Gateway Private Markets, a direct secondary specialist that links private companies with potential investors.
“Institutional investors, including pension and sovereign wealth funds, have traditionally dominated the private equity investment space. The continued development within direct secondary markets provides a greater balance between the liquidity needs of existing shareholders and investor demand for this asset class – all underpinned by the companies’ desire for reputable counterparts,” said Rachel Troublaiewitch, CEO at Gateway, in a statement.
CLSA, founded in 1986, is headquartered in Hong Kong and has offices in 14 countries in North America, Europe, and Asia. It was acquired by CITIC Securities in 2013. Services cover asset management, thematic research, corporate finance, and investment banking. Private equity fund exposure is offered through CLSA Capital Partners while a separate unit focuses on real estate.
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