Providing private wealth investors with access to a diversified portfolio of global unicorns
Hong Kong, 8 July 2020: CLSA, the international platform of CITIC Securities, has developed a new investment strategy offering HNW and UHNW investors access to a diversified portfolio of global late-stage private companies operating in innovative and disruptive sectors, an asset class traditionally accessible to institutional investors only.
Drawing on CLSA’s proprietary top-down thematic equity research, the investment philosophy is centered on four dominant global themes driving transformation and innovation: digital economy & experience, deep technology ecosystems, sustainability, and wellness & smart healthcare. Mitigating concentration risk, the strategy will capture investment opportunities in the fast-growing direct secondary market to build a broadly diversified portfolio of late-stage companies with venture capital backing from leading institutional investors. It specifically targets best-of-breed companies with private valuations exceeding USD1 billion and meeting CLSA’s strict investment criteria across liquidity, pricing and other metrics.
CLSA’s Structured Investments business developed and manages the investment strategy, and is partnering with Gateway Private Markets for specialist direct secondary brokerage and end-to-end execution.
Jeremy Collard, Head of Structured Investments at CLSA, commented: “Demand for access to leading global tech unicorns remains very strong, but investing in this asset class has traditionally involved sizeable commitments, high concentration risk and high fees. The fast-evolving market for private secondaries now enables us to build broad and diversified portfolios that address these concerns. Our strategy provides an opportunity to make a highly-diversified investment in late-stage tech alongside some of the world’s largest institutional VC investors.”
Rachel Troublaiewitch, CEO, Gateway Private Markets, said: “Institutional investors, including pension and sovereign wealth funds, have traditionally dominated the private equity investment space. The continued development within direct secondary markets provides a greater balance between the liquidity needs of existing shareholders and investor demand for this asset class – all underpinned by the companies’ desire for reputable counterparts. Gateway Private Markets is excited to partner with CLSA to provide access to this institutional asset class to the increasingly sophisticated base of Asian private wealth investors.”
Launched in 2019, CLSA’s Structured Investments business offers clients a full range of funds and bespoke investment solutions spanning equity, fixed income and various private asset classes.
CLSA, CITIC Securities’ international platform, provides global investors and corporates with insights, liquidity and capital to drive their growth strategies.
Award-winning research, an extensive Asia footprint, direct links to China and highly experienced finance professionals differentiate our innovative products and services in asset management, corporate finance, equity and debt capital markets, securities and wealth management.
As part of CITIC Securities (SSE: 600030, SEHK: 6030), China’s leading investment bank, CLSA is uniquely positioned to facilitate cross-border capital flows and connect China with the world and the world to China.
CLSA operates from 20 cities across Asia, Australia, Europe and the United States. For further information, please visit https://www.clsa.com.
About Gateway Private Markets (HK) Limited
Gateway Private Markets is a Hong Kong headquartered financial institution focusing on direct secondary market transactions. Gateway Private Markets is dedicated to providing access to the most sought-after private technology companies in growth to pre-IPO stages. Institutional investors and financial intermediaries benefit from Gateway Private Market’s extensive network of shareholders, private companies and partners globally and also Gateway Private Market’s end-to-end solution encompassing access, price discovery and company-friendly execution, in systematically and efficiently meeting their private market needs. Gateway Private Market’s institutional framework is built on a management team of seasoned industry veterans encompassing the fields of law, finance and technology built upon deep experience with the world’s largest global financial institutions.
Gateway Private Markets is licensed by the Securities and Futures Commission of Hong Kong with CE number BOF598 for the Regulated Activities of Dealing in Securities and Asset Management. For further information, please visit https://www.gatewayprivatemarkets.com.
Senior Communications Manager
T: +852 2600 7976
Senior Communications Manager
T: +852 2600 7016