Hong Kong Investment Corporation (HKIC) has picked ten asset management firms to oversee a portfolio worth at least HK$3 billion (US$384.6 million) under an investment entrant scheme aimed at high-net-worth individuals.
The list comprises home grown Value Partners and Abax Global Capital, and FirstLight Capital and M Capital Group from the US. The rest are from China, including Beyond Ventures, Primavera Capital and CMC Capital.
HKIC, a HK$62 billion government-owned investment vehicle, announced the appointments in a statement on its website on December 2.
The ten firms will each receive an equal share of allocation to manage the portfolio under the government’s New Capital Investment Entrant Scheme (New CIES), established last year to attract high-net-worth individuals to invest in the city.
“These managers provided concrete Hong Kong development plans in their proposals, illustrating their commitment to the long-term development of Hong Kong’s economy, competitiveness and society,” according to HKIC, adding that they proposed investment themes including artificial intelligence-enabled applications, sustainable technologies, materials science, and biotechnology.
Investments are scheduled to commence in the first quarter of 2026.
Applicants for the New CIES have to invest at least HK$30 million in permitted asset classes, including HK$3 million earmarked for the scheme’s investment portfolio.
