Swiss-listed Youngtimers has expanded into Australia with the acquisition of an asset manager that invests on behalf of large institutions, family offices and high net worth individuals.
Basel-headquartered Youngtimers has signed a non-binding term sheet for the acquisition of Australia-based Richmond Funds Management (RFM), according to a statement, subject to due diligence and definition of final terms. RFM’s current portfolio includes private equity, private credit, real estate and renewable energy projects with assets under management in excess of $200 million.
«The potential acquisition of RFM is a key step in solidifying Youngtimers AG’s development to be an APAC-focused asset manager,» said Youngtimers CEO Ben Cheng. «With Australia as a strategic entry point, this move strengthens our regional presence and unlocks exciting investment opportunities for our current and future investors. We will conduct due diligence and hope to conclude the deal as early as practical.»
The move follows Youngtimer’s acquisition in November 2024 of C Capital, an investment firm co-founded by Adrian Cheng, grandson of Hong Kong property tycoon Cheng Yu Tung. Following the acquisition, RFM will be rebranded as C Capital Australia.
