Alts boom: UOB PB says it’s “only logical” private banks take performance fees

Meng Keet Wong, Head of Managed Products and Alternative Investments, UOB Private Bank

With the private assets space becoming more crowded, it is “only logical” that private banks will start arguing for a share of the carry, says Meng Keet Wong, UOB Private Bank’s head of managed products and alternative investments. Wong said that while general partners (GPs) that entered the private wealth arena early once dictated terms through perceived scarcity, they are…

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