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Geneva-headquartered Jar Capital has bought Singapore multi-family office Lyra Capital, creating a $1bn (CHF 800m) external asset manager in the city-state.
The terms of the cash and stock acquisition have not been disclosed, but the transaction is expected to complete this month, according to a 17 July statement.
The deal will more than double the headcount of Jar’s Singapore subsidiary, Jar Wealth Management, to 18, with Lyra’s founders set to join Jar WM as shareholders and directors.
