DL Holdings plans partial acquisition of Singapore wealth firm, valued US$50M

21 Sep, 2024

DL Holdings plans partial acquisition of Singapore wealth firm, valued US$50M

DL Holdings Group Limited has entered into an MOU to acquire a stake in a Singapore-based wealth management firm, with a valuation of approximately US$50 million. The acquisition aims to expand DL Holdings' presence in Southeast Asia and the Middle East, further building its global asset management and investment ecosystem. With a current AUM exceeding US$3.5 billion, DL Holdings sees this acquisition as an opportunity to complement its existing operations and enhance its position in the region.

The Singapore-based firm, which has an AUM of US$2.6 billion, serves over 400 high-net-worth clients across India, the Middle East, Switzerland, Africa, and Europe. This acquisition will create synergies between the two companies in terms of multi-family office services and global investments. Andy Chen, Chairman of DL Holdings, believes this move will strengthen the group's presence in Singapore, expand its business scope, and build a foundation to explore the Middle East market with Dubai as a core base.

The acquisition aligns with DL Holdings' goal of exceeding US$10 billion in AUM, leveraging AI Family Office (DLiFO) technology to serve an expanded clientele. This deal will offer immediate market access and enhance the service offerings for both firms' clients.