The family office of Nicky Oppenheimer, former chairman of De Beers has launched a new family office in Singapore to boost investments between the region and Africa and promote it’s exposure to Asia.
According to a statement, Nicky Oppenheimer, with his family office, Oppenheimer Generations, and his son Jonathan Oppenheimer will set up a unit in Singapore.
Edoardo Collevecchio, the family office’s ex chief will relocate from London to build and lead the team in Singapore. The former head of Temasek’s Asia unit, Yi Long Ong will also be working with Oppenheimer Generations in Singapore.
The Link between Asia and Africa
Along with boosting it’s Asia exposure, the family office will also be seeking partners to boost investments between Singapore and Africa.
“We look forward to deepening relationships with like-minded partners,” said Jonathan Oppenheimer, the family office’s executive chairman.
The Firms Diamond Origins
Ernest Oppenheimer, Nicky’s father founded Anglo American, a multi-national mining company in South Africa, with it’s headquarters now in London. This helped De Beers become one of the largest diamond producers in the world.
Anglo American acquired the Oppenheimer’s 40 percent stake in De Beers for US$5.1 billion in 2011, which increased its stake to 85 percent and ended the family’s control over the diamond firm, which lasted for 80 years.
Right after, Nicky established Oppenheimer Generations, which now has more than two dozen employees in South Africa, New Jersey, and the U.K.