The Big Take
Rich Chinese Splashing Out on Luxury Have Yet to Invest Big in Singapore
Hedge funds, private equity firms see few inflows as Chinese snap up cars and condos
The Marina Bay waterfront in Singapore.
Photographer: Edwin Koo/BloombergThis article is for subscribers only.
When ultra-wealthy Chinese entrepreneurs started moving to Singapore en masse in 2019, investment firms were salivating at the chance to manage billions in new money. So far, it hasn’t quite happened.
Hedge funds, banks and private equity firms say few of their recent meetings with Chinese tycoons in the city-state have brought in business beyond basic custodian deals, even as the new arrivals spend lavishly on mansions, luxury cars and golf club memberships.