DBS Private Bank said its multi-family office platform has reached S$1 billion (US$780 million) in assets under management (AUM) two years after launch, and aims to double this by end-2026.

The DBS Multi Family Office Foundry VCC allows wealthy families to set up investment vehicles in Singapore with DBS handling administration, while clients control investment choices.

Family offices help wealthy individuals manage assets, taxes, and succession, with multi-family offices serving multiple families using shared resources.

DBS has onboarded more than 25 families since launching the platform in 2023, and requires a minimum investment of S$15 million per sub-fund.

The platform uses Singapore’s umbrella variable capital company structure, introduced in 2020, which enables faster onboarding compared to traditional single-family office setups.

DBS Private Bank reported clients from Europe, India, Greater China, and other Asian regions, and is in discussions with over 15 additional prospects.

DBS provides banking services to over one-third of single-family offices in Singapore.

🔗 Source: Reuters