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Financial management

Kiatnakin Phatra Financial Group Partners with Goldman Sachs to Enhance Wealth Management Services

Strategic Insights

— 1 min read

Kiatnakin Phatra Financial Group (KKP), a leading wealth management provider in Thailand, has partnered with Goldman Sachs Asset Management (GSAM) to sustain its business growth over the next five years. The partnership aims to leverage GSAM's global investment expertise to provide Thai investors with access to world-class assets and enhance offshore investment opportunities. With a consistent average annual growth rate of 16% over the past two decades, KKP is expected to reach 1 trillion baht in total assets under management (AUM) by the end of 2024, driven by a positive outlook for the wealth management sector and offshore investments.

Key Takeaways:

  • KKP has consistently grown its assets under management (AUM) since 2005, with an average annual growth rate of 16% over the past two decades.
  • At the end of 2024, KKP's AUM tallied 895 billion baht, with a goal to reach 1 trillion baht by the end of 2024.
  • Global exposure accounts for a relatively small portion of KKP's AUM, amounting to 169 billion baht or 18.9%.
  • The remaining 726 billion baht, or 81.1%, is invested in Thai assets, presenting a significant opportunity to increase offshore investments for the company's wealthy clients.
  • The strategic partnership between KKP and GSAM aims to enhance offshore investment opportunities for Thai investors, while helping the company achieve its AUM growth targets.
  • Through the partnership, KKP will leverage GSAM's global investment expertise to provide Thai investors access to world-class assets, including liquidity solutions, fixed income, public equity, private equity, private credit, and real estate.
  • Sabrina Gan, managing director at GSAM, highlighted the partnership as a valuable opportunity to expand GSAM's wealth management footprint in Thailand, providing Thai investors with global investment opportunities.

Statistics:

  • KKP's AUM growth rate: 16% average annual growth rate over the past two decades.
  • KKP's AUM at the end of 2024: 895 billion baht.
  • Global exposure in KKP's AUM: 169 billion baht (18.9% of total AUM).
  • Thai assets in KKP's AUM: 726 billion baht (81.1% of total AUM).
  • GSAM's assets under management: around US$2.9 trillion.
  • GSAM's global presence: investments across 30 countries.

Sources:

  • [The Nation, 24 February 2024] "Kiatnakin Phatra Financial Group partners with Goldman Sachs to boost wealth management business"
  • [Kiatnakin Phatra Financial Group, 2024] "KKP and GSAM Partner to Enhance Wealth Management Services"
  • [Goldman Sachs Asset Management, 2024] "GSAM Expands Wealth Management Footprint in Thailand through Partnership with Kiatnakin Phatra Financial Group"

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