Citi Singapore and Citi Hong Kong have announced new strategic partnerships with Blackstone, Blue Owl, and KKR to enhance its private market offerings for Citigold Private Clients in Asia and the Middle East. This collaboration will allow high-net-worth clients to access alternative asset classes such as private equity, credit, infrastructure, and real estate, which were traditionally available only to institutional investors.
The newly launched funds are structured in an evergreen format, providing simplified access to private markets with flexible subscription and liquidity terms, subject to a minimum initial holding period. This initiative aims to offer clients opportunities for uncorrelated returns and long-term growth, directly participating in the value creation of private market assets.
Vicky Kong, Head of Wealth Asia North and Australia at Citi, highlighted the importance of this collaboration in today’s volatile market, stating, “This collaboration with Blackstone, Blue Owl, and KKR directly addresses that demand, providing sophisticated access to private markets that were once the exclusive domain of institutional and private bank investors.”
The partnerships are set to deepen Citi’s wealth management offerings, with Yeo Wenxian, Head of Wealth for Asia South at Citi, expressing excitement about leveraging the investment expertise of these global firms. Ed Huang from Blackstone, Sean Connor from Blue Owl, and Jacqueline Zhuang from KKR all emphasised the significance of expanding access to institutional-quality private market opportunities for Citi’s high-net-worth clients.
The rollout of these funds has begun and will continue over the coming months, marking a significant step in Citi’s commitment to delivering comprehensive wealth management solutions.
