JAR Wealth Management Pte. Ltd. (“JAR WM”) has completed its acquisition of Lyra Capital Pte. Ltd. (“Lyra”), a Singapore-based fund management firm, through an amalgamation process under Section 215A of the Companies Act 1967 of Singapore with the consideration being satisfied through a combination of preference shares and cash, including performance-based structured earn-out mechanism.
The acquisition has resulted in Lyra becoming a wholly-owned subsidiary of JAR WM, with the two entities subsequently amalgamating into a single legal entity under the JAR WM name. The transaction is expected to significantly enhance JAR WM’s market presence, expand its client base, and increase its assets under management. The integration is also expected to generate operational synergies and broaden service offerings across Asia and Europe. Lyra is a fund management firm regulated by the Monetary Authority of Singapore and offers investment and wealth management services to clients from Asia to Europe.
The legal team advising on the vendors on the transaction includes partners Claudia Teo and Tan Tien Wei, assisted by associate Ng Guan Zhi, who provided strategic counsel on the structuring, regulatory compliance, and negotiation of the amalgamation, share purchase agreement, shareholders’ agreements and closing.