HK family offices launch US$100m fund to attract global investors

In a move to capitalise on new government policies and emerging sector trends, five Hong Kong family offices have jointly launched a US$100 million (HK$780 million) fund  to attract wealthy international investors.

The collective fund, known as Inspira, is a closed-end fund focused on private credit and other stable-income projects. It is aimed at affluent families, particularly those considering applying for residency in the city through the new Capital Investment Entrant Scheme (CIES), according to the South China Morning Post.

The CIES is designed to enrich the ecosystem by attracting high-net-worth individuals and their capital to Hong Kong. Eligible investors who make investments of HK$27 million or above in eligible assets and place HK$3 million into the new CIES Investment Portfolio, as managed by Hong Kong Investment Corporation, may reside and pursue development in Hong Kong.

This initiative comes as Hong Kong strives to demonstrate its commitment to enhancing the ecosystem for family offices and asset owners. The city has set a target to facilitate at least 200 family offices to establish or expand operations by the end of 2025. Upon achieving this, it aims to attract a further 220 family offices between 2026 and 2028 to enrich the market size further.

Meanwhile, Hong Kong has initiated several positive moves as the family office landscape evolves.

Don't miss: HK reaches 200 family office target ahead of schedule

Speaking at the Raffles Family Office Annual Forum on 8 October, Christopher Hui, the secretary for financial services and the treasury, highlighted three emerging trends in the family office sector: “professional governance, diversification into private assets, and global operational sophistication.”

“All these three trends that I mentioned, professional governance, diversification into private assets and also global operations sophistication, position family offices well to thrive in an era of rapid technological disruption, evolving economic paradigms, and also growing societal expectations. Hong Kong, as a global financial hub, is uniquely positioned to support this journey, offering a platform where bold ideas can flourish and also legacies can endure for generations to come,” said Hui.

Following the forum, Hong Kong released a "family office playbook" on 9 October, aiming to provide a clear roadmap for those planning to establish or expand their operations in the city.

The playbook is a comprehensive guide tailored for family offices, offering a clear roadmap for those planning to establish or expand their operations in Hong Kong. It covers practical advice on strategy formulation, navigating the regulatory environment, investment management, operational efficiency, and wealth succession and philanthropy.

Hong Kong's finance chief Paul Chan said in his blog, “The guide highlights Hong Kong’s unique strengths—our robust financial markets, transparent regulatory framework, and strategic position as a bridge between the Mainland and the global market. This is more than just a guide; it is a heartfelt invitation from Hong Kong to family offices worldwide to seize the opportunities we offer."

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