UK-based specialist asset manager Toscafund has set up a new office in Hong Kong after securing regulatory approval from the Hong Kong Securities and Futures Commission.
The Hong Kong office, which bolsters the firm’s Asia-Pacific footprint, is said to be its second in the region and fifth globally.
In addition to its London headquarters, Toscafund has offices in Manchester, New York, and Melbourne.
The new office expands the firm’s global network for fund distribution as well as investment across its specialist areas.
These include listed equities, private equity, private debt and UK commercial property segments.
Toscafund founder Martin Hughes said: “Toscafund has a 20-year track record of delivering strong returns for family offices. I’m really pleased we are opening in Hong Kong as we see great potential for investors, especially family offices and high net worth individuals joining the existing network.
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By GlobalData“Having known Mark and Jonathan for many years, I have no doubt their entrepreneurialism and expertise will help us establish a good presence in this market.”
Toscafund has named Market Thinking founder Mark Tinker and, former Investec investment director at Jonathan Sleath to manage its funds and proprietary investment opportunities in Hong Kong.
The firm said it will develop an investment platform, identify opportunities and hire local financial talent in the city as well as in the Greater Bay Area over time.
Tinker and Sleath commented: “Working with Martin and the Toscafund team, we have a tremendous opportunity to continue building Toscafund in one of the world’s leading financial centres.
“Toscafund has an exceptional track record and we are looking forward to presenting its specialist approach to investors in Hong Kong and across the region.”
In 2018, Toscafund signed a deal to purchase a stake in German online wealth management firm LIQID, through its specialist vehicle Tosca Private Investments Fund (TPIF).