Somers Limited, has acquired a strategic minority stake in Singapore headquartered, fast-growing alternative investment and wealth management platform Aura Group.
Somers' a Bermuda Stock Exchange listed financial services investment holding company makes core investments primarily in the banking, asset financing, and wealth management sectors. Somers is managed by ICM Limited (“ICM”), a Bermuda based global fund manager and corporate finance adviser which currently manages approximately US$2.6 billion in funds directly and is responsible indirectly for over US$20 billion of assets in subsidiary investments. ICM operates out of 10 offices globally and specialises in investments in the following sectors: utility & infrastructure, financial services, mining and resources, technology, and fixed income.
Aura Group, Somers and ICM look forward to collaborating on investments and leveraging each other’s valuable expertise, insights and extensive networks globally.
“The deal is a milestone development for Aura Group as the firm continues to scale its operations in the Asia Pacific region. Both Somers and ICM’s track record for value creation speaks for itself and we look forward to sharing deal flow and insights. The partnership also gives Aura Group a stepping stone into European capital markets. South East Asia is the fastest growing region in the world and is receiving growing interest from international investors,” said Calvin Ng, Managing Director of Aura Group.
“Aura is an attractive investment for Somers given their Asia Pacific region footprint combined with their fast-growing investment platform. We are very much looking forward to working with Aura,” said Jonathan Chi, General Manager of ICM Research Pte Ltd.
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Aura Group subsidiaries issuing this information include Aura Group (Singapore) Pte Ltd (Registration No. 201537140R) which is regulated by the Monetary Authority of Singapore as a holder of a Capital Markets Services Licence, and Aura Capital Pty Ltd (ACN 143 700 887) Australian Financial Services Licence 366230 holder in Australia.