Morgan Stanley PE Asia backs Hong Kong financial advisor AMTD

The PE firm will work with AMTD's existing backer, Cheung Kong Group, to develop the company's financial planning and asset management businesses for high-net worth customers in Greater China. In particular the investment is intended to augment AMTD's product range, market knowledge and operational capabilities.

AMTD was established in 2003 and operates through five subsidiaries: an IFA unit; a risk management, business insurance and employee benefit advisory service; a customer service and telemarketing division; a mortgage and loan-servicing business; and a dedicated China arm that currently has offices in cities such as Beijing, Chengdu, Chongqing, Guangzhou, Shanghai and Shenzhen. The company employs more than 200 advisors.

According to research published by HK IFA and Nielsen, nearly 2.4 million mainland residents made overnight trips to Hong Kong in 2013. A large percentage came purely for investment purposes.

In July MSPEA reached a final close of $1.7 billion on its fourth pan-regional fund. China and South Korea are expected to account for 80% of the corpus.

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• Topics
• Financials
• Investments
• Greater China
• Growth capital
• China
• Hong Kong (China)
• Morgan Stanley Private Equity Asia
• Financial Services