Hong Kong billionaire group bets on rising independent asset manager

CTF Services (CTFS), part of Hong Kong’s billionaire Cheng family, is expanding into wealth management with the acquisition of a majority stake in Blackhorn Group, a rising independent external asset manager (EAM) headquartered in Hong Kong. The firm announced on Tuesday that it has signed a conditional agreement to acquire a 65% equity interest in Blackhorn. Financial terms of the…

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