XEQ Capital Private Limited · MAS CMS-Licensed Fund Manager · CMS Licence No. CMS101602 Accredited & Institutional Investors Only · SFA s.275

About XEQ Capital

A regulated fund manager, built for alternative assets.

Regulated by MAS since 2019. Boutique by design. Institutional by governance. Focused exclusively on private markets for accredited and institutional investors.

S$250M

AUM

VCC

ACRA-Registered VCC Framework

100+

DTA Network Access

Our Thesis

Boutique asset management. Institutional governance.

XEQ Capital was built on a specific observation: the investors who most need bespoke private market access - UHNW business owners, family offices, and institutional allocators - are consistently underserved by the two dominant models in Singapore's wealth management landscape.

Private banks offer product breadth but operate under distribution incentives that conflict with independent mandate management. Large multi-family offices offer independence but impose minimum AUM thresholds and relationship-manager layers that dilute direct access.

XEQ occupies the space between: a fully MAS-regulated fund management company with the governance infrastructure to hold institutional mandates and the headcount to move without bureaucratic delay. Principals work directly with the investment team. Mandates stay tighter. Decisions move faster.

"We are not a platform. We are not a distributor. We are a fund manager - with a licence, a team, and a mandate to deploy capital into private markets with institutional rigour."

Investment Philosophy

Four operating principles.

These are not values statements. They are the structural constraints that determine how XEQ sources, underwrites, and manages capital.

Regulated First

Every mandate, structure, and communication is designed around MAS conduct requirements. Regulatory compliance is not a cost centre - it is the foundation of investor trust.

Proprietary Underwriting

Deal flow is sourced and underwritten in-house. No third-party product distribution. No reliance on external fund-of-funds structures. Every position is a direct conviction.

Principal Access

Investors work directly with the investment team - not a coverage banker or relationship manager. This is not a differentiator. It is a structural constraint of our headcount model.

Institutional Infrastructure

Independent custody, third-party fund administration, annual statutory audits, and MAS compliance reporting. The same governance architecture as a large fund house - at boutique scale.

Governance & Risk

Governance architecture.

XEQ Capital operates under a governance framework designed to meet MAS conduct requirements for a licensed fund management company. The structure separates investment decision-making from custody, administration, and compliance oversight.

Independent Custody

Client assets are held with independent, MAS-regulated custodians. XEQ Capital does not hold client assets directly. Custody arrangements are disclosed in each fund's offering documentation.

Third-Party Fund Administration

NAV calculation, investor register management, and subscription/redemption processing are handled by independent fund administrators. This separates operational control from investment management.

Annual Statutory Audit

Each VCC sub-fund undergoes an annual statutory audit by an ACRA-registered auditor, as required under the Variable Capital Companies Act 2018 and MAS Notice SFA 04-N14.

MAS Compliance Reporting

XEQ Capital submits regular regulatory returns to MAS, including Form 1 (annual), Form 2 (semi-annual), and ad-hoc notifications as required under the SFA and MAS Notice SFA 04-N02.

AML/CFT Framework

Investor onboarding follows MAS Notice SFA 04-N02 AML/CFT requirements. All investors undergo KYC/CDD screening. Enhanced due diligence applies to PEPs and high-risk jurisdictions.

Track Record

Verified milestones.

Metrics below marked as placeholders require internal verification and legal sign-off before publication. All performance data must comply with SFA Section 329(1) and MAS advertising guidelines.

Total Capital Deployed

$127M SGD

Active VCC

4

Active Sub-funds

10

Compliance note: Under SFA Section 329(1), public references to AUM must legally separate discretionary AUM from advisory mandates. Past performance data must include the required MAS disclaimer. All metrics require legal review before publication.

Our History

From family office to regulated fund manager.

2019

Founded as a family office

XEQ Capital Private Limited incorporated in Singapore. WealthAsia SPC established in the Cayman Islands as the initial investment vehicle for founder capital and early co-investors.

2020

MAS CMS Licence granted

Approved by the Monetary Authority of Singapore to operate as a licensed Capital Markets Services (CMS) fund management company under the Securities and Futures Act 2001. Singapore's VCC framework launched the same year - XEQ adopted it from inception.

2022

Appointed fund manager - Abiel Real Estate VCC Fund

First external VCC mandate. Appointed as fund manager for the Abiel Real Estate VCC Fund - a sub-fund structure registered with ACRA and operating under MAS oversight. Established XEQ's VCC operational infrastructure.

2024

XEQ Global Alternatives VCC & Private Credit Fund I launched

Two proprietary strategies launched under the XEQ VCC umbrella - the Global Alternatives sub-fund targeting multi-strategy private market exposure, and Private Credit Fund I focused on senior secured direct lending in Southeast Asia.

2025

Upgraded to full CMS licence from RFMC

CMS Licence No. CMS101602 was awarded by MAS on 10 April 2024. Fund Solutions platform opened to external portfolio managers seeking to establish and administer investment portfolios

Leadership & Investment Committee

The Founders.

A small team with direct accountability. Every investment decision runs through the same people managing client relationships.

Ong Boon Ping

Co-Founder and CEO

Boon Ping Ong is Co-Founder of XEQ Capital and Director of Eng Chin Hang Plumbing & Sanitary Pte Ltd. An accomplished entrepreneur with extensive experience in construction, business transformation, and operational leadership, he brings a practitioner's perspective to investment management. His operational due diligence, value creation and founder engagement experience strengthens XEQ Capital's ability to source differentiated opportunities and support portfolio companies.

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Pei Sai Teng

Co-Founder and CIO

Sai Teng Pei is an Investment Director at XEQ Capital with experience spanning investments, corporate finance, and strategic growth advisory. He specialises in investment sourcing, due diligence, transaction execution, and portfolio value creation. Working closely with founders and management teams, he supports growth opportunities, operational scaling and strategic initiatives.

LinkedIn ↗

Ready to discuss a mandate?

XEQ Capital works on a by-introduction basis. Accredited and institutional investors only.

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