Opinion | Hong Kong, Singapore, Dubai: the rise of the ‘family office triangle’



Family offices in Hong Kong, Singapore and Dubai are redrawing the global map of private capital. Each hub combines favourable tax and regulatory regimes with strong local networks of banks, advisers and deal makers. Together, they now rival Western centres in deploying private equity across the Global South.

Drawing inspiration from family offices in the United States – where private equity has represented a major share of assets – these Asian hubs are scaling rapidly, positioning themselves as key financiers of the next wave of emerging-market growth. This transformation reflects not only a search for yield, but also a deliberate repositioning of global wealth towards faster-growing economies.

Singapore’s appeal extends well beyond low taxes. It offers bilingual talent, modern governance and a mature ecosystem tailored for sophisticated private capital. The city’s proximity to other parts of Southeast Asia, as well as China and India, makes it a natural headquarters for regional deals. Its advanced legal, fund administration and professional services infrastructure minimises friction in international investing.

These advantages have turned Singapore into one of Asia’s pre-eminent bases for family offices seeking to co-invest, syndicate and deploy private equity efficiently.

Hong Kong is reinventing itself as a strategic hub for private capital, boasting about 2,700 single-family offices and increased policy support. It serves as a gateway for Chinese wealth and a launch pad for global private equity across Asia.

Despite recent challenges, Hong Kong is the world’s third-ranked financial centre, underpinned by deep capital markets, robust legal frameworks and professional expertise. Its territorial tax system, absence of capital gains tax and proximity to mainland supply chains give it an edge in sponsoring private equity with China exposure or broader Asian reach.

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