Home » South African billionaire Oppenheimer family sets out to mine Asian economy

South African billionaire Oppenheimer family sets out to mine Asian economy

by Editorial Team

Oppenheimer Generations, the family office of Nicky Oppenheimer and his son Jonathan, has set up an office in Singapore to boost its footprint in Asia and drive investment between Africa and the region. It also hopes to partner with other family offices in the city-state.

“We look forward to deepening relationships with like-minded partners,” Oppenheimer Generations Executive Chairman Jonathan Oppenheimer said.

To this end, Edoardo Collevecchio, the former chief of staff for Oppenheimer Generations, will relocate from London to build and lead the Singapore team. At the same time, Yi Ling Ong, the former head of investment for Temasek’s* Asia unit, will join the family office.

“Over the next 20 or 30 years, the synergies between Africa and Asia are going to be substantial. We want to be here at the start of that journey,” Collevecchio said.

Oppenheimer Generations represents the global interests of the Nicky and Jonathan Oppenheimer family. It has a diversified community of commercial ventures and not-for-profit organizations.

The office was created after South Africa-based mining giant Anglo American bought the family’s 40-percent stake in De Beers for $5 billion in 2012.

Nicky Oppenheimer’s grandfather, Ernest Oppenheimer, co-founded Anglo American in 1917. 

According to Bloomberg, the firm later took control of De Beers, where Nicky Oppenheimer served as chairman from 1998 to 2012. The company eventually helped turn De Beers into the world’s largest diamond producer.  

*Temasek is a Singaporean government-controlled investment company with a multinational staff of more than 800 people.

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