Singapore boutique deal reflects acquisition trend

Singapore-based New Silkroutes Group has acquired 51% of $250 million multi-family office Stamford Management, reflecting a trend towards consolidation in the private wealth industry in Asia and beyond. The move by NSG – whose businesses include oil and gas trading, enterprise info-communication system integration, and network security – is part of its push to expand into asset management. It follows NSG’s formation of a joint venture with New York-based CG Capital Partners to o…