Standard Chartered’s Global Private Bank has introduced the Private Markets Co-Investment Club (CIC) to offer ultra-high-net-worth (UHNW) clients unique access to private market co-investment opportunities on a global scale.
The bank said that its ultra-rich customers will gain “deal-by-deal” access to private market opportunities through the club.
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The CIC is currently open to eligible clients in Singapore, Hong Kong, and the UAE, with an aim to extend its reach to Jersey in the UK.
The new offering caters to the increasing demand among “sophisticated investors” for a “resource-efficient” method to build institutional-quality private market portfolios, with a focus on manager-led direct and co-investment opportunities.
Members of the CIC will benefit from institutional-level due diligence while maintaining complete control over their investment choices.
They will also receive support in transaction execution and facilitated access to reporting and regular updates on their investments’ progress.
Standard Chartered private bank and affluent clients global head Raymond Ang said: “Ultra-high-net-worth individuals are increasingly looking beyond traditional investment solutions to access the private markets.
“We are disrupting the industry with the Co-Investment Club to offer our clients differentiated access to high-quality direct investment opportunities that are otherwise not readily available.”
For the CIC’s inaugural initiative, Standard Chartered has collaborated exclusively with private investment firm Ardian, to offer systematic access to private equity co-investment opportunities.
Ardian executive committee member and executive vice president Jan Philipp Schmitz said: “We are committed to offering innovative solutions tailored to meet the unique needs of every private investor segment and enabling them to access high-quality private capital investments.”
Earlier this month, Standard Chartered Global Private Bank announced the expansion of its UAE frontline private banking team by 20%.
