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3w ago

KKR Launches Ascend Asia Platform to Support Singapore Advisory Firms

Backed by Asia Fund IV with in-principle approval for its first acquisition, Ascend Asia pursues further expansion through partnership talks.

Trading information for KKR & Co is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., August 23, 2018. REUTERS/Brendan McDermid/File Photo
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Overview

  • KKR officially launched Ascend Asia in Singapore on July 1, 2025 as a dedicated platform to acquire and support independent financial advisory firms.
  • Its inaugural deal is the pending purchase of finexis, one of Singapore’s largest advisory firms with over 1,100 consultants, which has secured in-principle MAS approval and is slated to close in the third quarter of 2025.
  • Backed by Asia Fund IV, Ascend Asia will provide member firms with capital injections, strategic guidance, digital infrastructure and professional-development resources.
  • The platform’s leadership team is headed by CEO Tomas Urbanec and features Tan Siew Yen as chief risk and compliance officer, Leonard Ong as general counsel and Patrick Teow as senior adviser.
  • Ascend Asia is in active discussions with additional Singapore-based advisory groups and plans to evaluate further acquisitions across the broader Asia region.