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FINANCIAL SERVICES | Staff Reporter, Singapore

New Silkroutes Group buys 66% stake in European fund manager for $3.59m

It wants to grow its investments business.

Oil and gas firm New Silkroutes Group (NSG) bought a 66% stake in European fund manager Culross Global Holdings Limited (Culross Global) for $3.59m (US$2.64m).

According to an announcement, Culross Global is a private company in England and Wales that focuses on investment management activities.

NSG said it wants to expand the investment and fund management services division of its wholly-owned subsidiary New Silkroutes Capital (NSC), which it believes can bring growth to the firm.

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