Blue Owl hires Lai, ex-UBS, to lead APAC private wealth distribution

Blue Owl Capital Inc. hired Pak-Seng Lai as head of private wealth distribution for the Asia-Pacific region, the company said.

Lai reports to Blue Owl Securities CEO Derek O'Leary. He joined as managing director, based in Hong Kong. Lai started the role in January.

"Lai will spearhead the expansion of Blue Owl's private wealth business across APAC markets," according to a Blue Owl statement on Feb. 17. "Asia has a growing demographic of high-net worth investors looking for access to alternative investments."

Blue Owl's private wealth business seeks to provide high-net worth investors the same offerings as institutional clients, the company said. The private wealth business "has well-established relationships with over 85 private wealth management platforms, positioning the firm well to accelerate growth of the business with its push into Asia."

Previously, Lai was head of private markets for Asia-Pacific at UBS AG, where he advised the firm on private equity investments and portfolio construction for the region.

Lai has held various management positions at global alternative asset managers, including HQ Capital and Schroder Adveq. Lai also worked at private equity firms 3W Partners Capital, Vision Knight Capital and Transpac Capital. Lai's career began as an auditor at PricewaterhouseCoopers.

In December 2021, Blue Owl acquired Hong Kong-based placement agent Ascentium to establish a physical presence in the region. The new Hong Kong office plans to expand its team to about 20 by the end of the second quarter.