“This week alone, I have met two clients inquiring about family office services and tonight I am meeting another – lots of overtime,” said Wang Fengyu, founder and chairman of Hong Kong-based Oakwise Capital, in an interview on Wednesday.
With a US$100 million minimum threshold of entry for its multifamily office services, the firm – established in 2021 – served 10 clients, managing a total of US$1.5 billion to US$2 billion. Around 70 per cent of these clients were shareholders of Hong Kong-listed companies with market capitalisations of HK$5 billion (US$637 million) to HK$50 billion.
Wang noted a rise in demand from such clients over the past year, a trend he expected to continue with a growing number of mainland companies lining up for share sales.
The city’s bourse has hosted 50 listings, raising a total of US$15.8 billion as of July 16. Of those, 44 firms hailed from the mainland, accounting for most of the funds raised, according to data provided by the London Stock Exchange Group.
