Moonfare will allow Fidelity’s institutional and eligible clients in Hong Kong and Singapore to access its private market strategies, through its digital platform, with plans to expand to additional Asian markets
UK-based investment management company Fidelity International and digital investment platform Moonfare have expanded their strategic partnership in Asia.
Under the expanded partnership, Moonfare will allow Fidelity’s institutional and eligible clients access to its private market strategies through a digital platform.
The partnership will initially serve the clients in Hong Kong and Singapore, with plans to roll it out to additional Asian markets later.
Fidelity and Moonfare initially entered into an exclusive strategic partnership in April last year in major parts of Europe, including Germany, Switzerland, Italy, France and the UK.
With the expanded partnership, Fidelity’s institutional and eligible clients in Asia can access Moonfare’s digital platform and private assets.
Fidelity International Asia Pacific ex-Japan managing director Rajeev Mittal said: “By partnering with Moonfare, our ambition is to democratise this asset class so that more investors can gain access to the benefits private assets could offer, which are carefully curated by an experienced team at Moonfare.”
Fidelity International Asia Pacific ex-Japan private banking, wealth and strategic clients head Johann Santer said: “With ongoing pressure on investor returns expected in public markets, alternative investments continue to play an important role in long-term asset allocations.
“Our partnership with Moonfare and its market-leading open-architecture platform, combined with our recently expanded private asset team, provides a strong foundation for future growth.”
Fidelity said that it has selected Moonfare based on its focus on quality selection, digital platform, low minimums and disruptive fee structure.
The expanded partnership is expected to further strengthen the company’s alternative assets capabilities.
Established in 2016, Moonfare offers private equity investment services to individual investors and their advisors, through its digital asset management platform.
Fidelity has made a minority stake investment in Moonfare and appointed its Europe managing director Christian Staub to the Moonfare advisory committee.
The company has acquired a minority stake through its Fidelity International Strategic Ventures (FISV) venture capital team, dedicated to investing in fintech businesses and technologies.
It is the first institutional investor to acquire an equity stake in Moonfare.
Fidelity International offers investment solutions and services and retirement expertise to more than 2.8 million customers worldwide. It operates in more than 25 countries, with $767.6bn in total assets.
Moonfare partnership head Kit Toh said: “Moonfare’s partnership with Fidelity International highlights the natural evolution of our businesses to increase access to the fast-growing alternative asset space.
“We will build out our market-leading position as a disruptor and synergise with Fidelity in our long-term mission to scale Private Equity solutions efficiently to the broader market and solidify our position on a global level.”