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

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.

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.