DL Holdings Group Completes Acquisition of DL Family Office, Boosting its Asset Management Portfolio in Hong Kong

Sep 19, 2023 Hubbis

DL Holdings Group, listed in Hong Kong, has finalized its complete takeover of a multi-family office service provider by purchasing the remaining 55 percent stake in DL Family Office.

This HK$220 million ($28 million) acquisition comprises HK$70 million in cash and HK$150 million through promissory notes. This move comes after DL Holdings Group's prior purchase of a 45 percent share in DL Family Office earlier this year.

Through this consolidation, DL Holdings aims to position itself as a leading asset management and financial services platform in Hong Kong, primarily focusing on multi-family office services.

DL Holdings chairman, Andy Chen, highlighted three primary reasons for the acquisition:

The established performance history of DL Family Office.
The potential for significant growth in management scope, client base, revenue, and profitability.
The beneficial synergies with DL Holdings' current departments such as securities, asset management, real estate, and research.

DL Holdings, based and publicly traded in Hong Kong, also operates branches in cities including Shanghai, San Francisco, and Singapore. Their range of services encompasses investment banking, securities trading, financial consulting, multi-strategy investment fund management, investment analysis, and provision of financial loans. At present, DL Holdings manages assets exceeding $3 billion, with approximately $2.1 billion originating from DL Family Office.