– USA, NY – Scepter Partners, a leading direct investment and merchant banking platform for sovereign wealth and large cap family offices, announced the appointment of one of its founders, financier Rayo Withanage as Group Chief Executive Officer. In this role, Mr. Withanage will be responsible for leading the expansion and profitability of the Group. HH Prince Abdul Ali Yil Kabier shall continue as chairman of the Board of Stakeholders. Regarding Mr. Withanage’s appointment, HH Prince Abdul Ali, a scion of the Brunei Royal Family, commented, “We are honored to continue under the inspiration and leadership of Mr. Withanage. As he moves to a more executive role, he will drive the financial and strategic dimension of our business, which has the full support of over $14 billion in assets represented by Scepter’s core investors.”
Mr. Withanage was named by Euromoney as one of the most influential financiers in the Middle East and Asia, responsible for founding the BMB Group as “the industry’s most exclusive commercial multi-family office.” Trained as an M&A lawyer, he went into direct investments and began his career as a successful investor in emerging markets before becoming the head of the private investment offices of the co-founders of BMB. Under his leadership and majority ownership, BMB became the first commercial multi-family office of ruling families to unify investors from the Middle East & Asia. Mr. Withanage has an LLB in Law & a BA in Government from The University of Auckland and an MSc from the London School of Economics.
In 2015, the core investors of BMB decided to spin out their assets and combine resources with a number of sovereign and institutional investors to form Scepter. The move was the result of a desire by core investors to develop an institution with significantly more capital, syndication and merchant banking capabilities than a traditional family office. Scepter is now run by Anthony Steains and the former Blackstone Asia Advisory Partners Team. BMB was also refocused to be a specialist advisor and co-investor for Forbes 500 families. BMB, with offices in Bermuda and London, is now led by independent management under its CEO, Rahula Withanage.
About Scepter
Scepter is a standing syndicate of ruling families, ultra-high-net-worth industrialists and sovereign wealth funds. Headquartered in Bermuda with offices in New York and representative offices in London and Beijing, Scepter was founded to acquire large cap assets with a focus in natural resources, infrastructure, real estate and media and telecommunications. As a principal investor, Scepter is supported by the discretionary assets of its core stakeholders and a syndicate of investors who have combined resources to invest in off-market large cap transactions globally.
- Disclaimer - News, data, and statements included in this release are intended exclusively for general information purposes. Talent4Boards does not guarantee that news is accurate or about the correct person and accepts neither liability for the consequences of the reader’s reliance, nor responsibility for the accuracy of the information. Nothing in this release should be considered for decisions about referred securities. Products and brand names may be trademarks or registered trademarks of their respective owners.
