American alternative investment management firm Hamilton Lane has strengthened its Asian footprint by opening a new office in Shanghai, China.
The new office represents the firm’s 6th branch in Asia after Hong Kong, Seoul, Singapore, Sydney, and Tokyo.
It will be led by Hamilton Lane managing director and co-head of Asia investments Mingchen Xia.
The Shanghai office comprises seven professionals across various teams, including investment, client solutions as well as compliance and risk management.
Xia said: “We have observed growing demand from domestic institutional and private wealth investors to allocate their capital to global assets, and are thrilled to have an established presence on the ground in Shanghai from which to manage private markets investment programs for investors of all sizes.
“At Hamilton Lane, we have been investing in the region for more than 15 years and with our new capabilities in the RMB market, we’ll be even better positioned to deliver new and differentiated private markets solutions to our clients.”
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By GlobalDataIn May last year, the company received Shanghai Qualified Foreign Limited Partner (QFLP) pilot status, which enables overseas investors to convert USD to Chinese currency (RMB) and invest in RMB private markets.
The approval has made Hamilton Lane the first entity in Shanghai to set up a secondary fund business using a QFLP method.
Opening of the Shanghai office follows the appointment of Kerrine Koh as the new head of Hamilton Lane’s Southeast Asia business.