Somers acquires 15% of Aura Group
Alternative investment and wealth management platform Aura Group has seen 15% of its firm acquired by investment holding company Somers.
Somers had acquired a 15% strategic minority stake in the Singapore-headquartered firm.
Listed in Bermuda, Somers was managed by Bermuda-based global fund manager ICM which had US$2.6 billion ($3.3 billion) in funds directly.
The three firms said they looked forward to “collaborating on investments and leveraging each other’s valuable expertise, insights and extensive networks globally”.
Calvin Ng, managing director of Aura, said: “The deal is a milestone development for Aura Group as the firm continues to scale its operations in the Asia Pacific region. Both Somers and ICM track record for value creation speaks for itself and we look forward to sharing deal flow and insight.
“The partnership also gives Aura Group a stepping stone into European capital markets. South East Asia is the fastest-growing region in the world and is receiving growing interest from international investors.”
AUTHOR
Laura Dew
Recommended for you
Apostle Funds Management has appointed the newly created position of director, head of wholesale as the firm expands its Australian footprint in the wholesale sector.
Recruitment manager Robert Half has shared the most in-demand roles in financial services that firms are finding difficult to fill, driven by ASIC’s growing focus on risk and compliance.
ASIC chief executive, Warren Day, is among senior executives to depart the corporate regulator amid changes to its leadership team.
Iress has completed the sale of its platform business, bringing $4.1 billion in funds under administration over to Praemium.
