OUR NEWS STORY
Swiss-based JAR Capital has bought Singapore multi-family office Lyra Capital, creating a $1bn external asset manager in the city-state.
The terms of the cash and stock acquisition have not been disclosed, but the transaction is expected to complete this month, according to a 17 July statement.
The deal will more than double the headcount of JAR Capital’s Singapore subsidiary, JAR Wealth Management Pte Ltd, to 18, with Lyra’s founders set to join JAR Capital as shareholders and directors.
JAR Capital opened up shop in Singapore in 2022 and also has a presence in Dubai. The firm said the two businesses are complementary and combining them will create operational efficiencies and cost savings.
Tim Walter, JAR Wealth Management Pte Ltd’s CEO, said: ‘The integration is about scale, but more importantly, it’s about synergy and common values. We are bringing together two firms with complementary clients, cultures, and capabilities.’
The purchase of Lyra, established in 2007, will deepen JAR Capital’s ties in the Asian high net worth market. It will also add clients across the region, including in Japan, Thailand, Indonesia and Australia.
The deal will also enable Lyra’s clients to access JAR Capital’s investment platform, which includes ranges of in-house and third-party managed funds.
Lyra CEO Charles Monney said: ‘The combined intelligence and resources derived from this acquisition will accelerate the implementation of a controlled growth strategy across Asia.’
JAR Capital chairman Gerald de Senger added the buy reflects JAR Capital’s aim of being a ‘reference player’.