Endowus : Endowus Triples Alternative Investments in 2024

Digital wealth manager Endowus saw its high net worth client assets grow in 2024 with strong appetite for alternative investments.In 2024, Endowus tripled investments in alternatives, including hedge funds and private markets, to over $350 million, according to a press release.In response to rising demand for alternatives, Endowus has also expanded its private market solutions with the launch of Endowus Private Credit and Endowus Private Equity. This will provide access to multiple evergreen, semi-liquid private market funds, offered by the likes of Apollo, Ares and Blackstone, Carlyle, EQT, Vista and more, in a single vehicle.Through a partnership with iCapital, the new solutions are available for professional investors in Hong Kong and accredited investors in Singapore via Endowus' app.Investor DemandAccording to the 2024 Endowus Private Wealth Insights Report, private markets are gaining traction due to diversification benefits from the asset class' low correlation to public markets. However, 38 percent of respondents cited a lack of accessible information and education as a major barrier.«While market conditions remain challenging, opportunities persist for those who know where to look,» said Gregory Van, co-founder and CEO of Endowus. «Our emphasis on private markets solutions is especially relevant, as it underscores the growing recognition that traditional investment approaches must evolve in response to shifting market dynamics.»The broader business also saw growth with high net worth client assets increasing 64 percent year-on-year, though no absolute figure was disclosed. As of September 2024, the firm had over $7 billion in total client assets.