Chinese invest in Camper & Nicholsons International

Oct 24, 2016 by Lucy Chabot Reed

Lai Sun Development Company Ltd., a member of Hong Kong-based Lai Sun Group, has invested in the equity of Camper & Nicholsons International.

According to a press release, “the objective of the investment is to reinforce the company’s capital, position the company for accelerated global growth, including the creation of a major platform for Camper & Nicholsons expansion throughout Asia — establishing a valuable link for Asian clients to connect with Camper & Nicholsons brokerage and charter offerings around the world.”

CNI’s board of directors appointed Peter Lam as chairman and Lester Lam as a member. Peter Lam is also chairman of Lai Sun Group, chairman of the Hong Kong Tourism Board, and an ex officio member of the Hong Kong Trade Development Council. Lester Lam is CEO of Lai Fung Holdings Limited, a Lai Sun Group company whose principal business is property development and investment in China. Both men own yachts.

Lai Sun Development Company Ltd. owns many luxury services businesses in Asia, including several Michelin-star restaurants; residential and commercial developments; hotels; and is regarded as the most diversified Chinese-language entertainment provider in Asia.

According to the news release, the company brings “stable, long-term investment to Camper & Nicholsons, including expansion throughout Asia.” Asia leads all regions in growth of both billionaire population and wealth.

“Despite 26.1 percent of the world’s billionaires coming from Asia (645 billionaires), they do not fall in the top five countries for UHNW [ultra-high net worth] superyacht owners, demonstrating the untapped growth potential in this area,” the release noted.

Manlio Niccolai of Fincantieri also joined the CNI board, replacing Marco Mazzu. Paolo Casani was named managing director.

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About Lucy Chabot Reed

Lucy Chabot Reed is publisher and founding editor of The Triton.

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