US private capital software platform Carta opens HK office.
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US private capital software platform Carta opens HK office. Carta, a private markets software and fund administration provider, has announced an office in Hong Kong to expand its Asia operations alongside its Singapore regional headquarters, which opened in 2021. The company said the Hong Kong team will cover sales, marketing, customer experience, and fund administration, and support clients in Cantonese, Mandarin, and English. Carta said Hong Kong manages about US$240 billion in private markets assets and has recently returned to the No. 1 spot for IPO activity, which it said is driving demand for operational tools for fund managers. The firm said the Hong Kong location is its 15th office globally, adding to existing offices in Singapore, Abu Dhabi, and Sydney. Food for thought. Implications, context, and why it matters. Carta enters Hong Kong's Greater Bay Area finance gateway. * Carta is moving into Hong Kong, the main finance center for the Greater Bay Area (GBA), a group of 11 cities with US$1.642 trillion in GDP 1. * In this state-backed plan, Hong Kong serves as the international asset management center and offshore Renminbi hub, moving capital between mainland China and global markets 2. * That role is drawing money. Total assets under management hit HK$35 trillion by the end of 2024 3. * Family offices (firms that manage money for wealthy families) are...
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