The Bridgespan Group opens Southeast Asia hub in Singapore

Global nonprofit advisory organisation The Bridgespan Group today opened its Southeast Asia hub in Singapore, to serve as a strategic location for the organisation within the region.

Incubated by Bain & Co two decades ago, the Group today is a well-established organisation with deep experience collaborating with nonprofits, non-government organisations, donors and investors to accelerate the impact of their work and philanthropy.

The Group has experience working with some of the world's most wealthy donors, such as Mackenzie Scott, Bill & Melinda Gates Foundation and the Tanoto Foundation, just to name a few.

Why Asia, and why Singapore

Globally, the number of family offices have increased substantially, reflecting a growth in global wealth.mAsia's growth has brought about an exponential increase in high net worth individuals (HNWIs) who are keen to do good and give back to society.

It is anticipated that by 2030, the number of HWNIs in Asia will outnumber that of Europe, the Middle East and Africa. According to the Economic Intelligence Unit, 72 per cent of HNWIs in Asia believe that it is increasingly important to consider environmental, social and governance (ESG) factors when investing.

As the desire to give back to society increases alongside global wealth, the need for professional services to help capital flow efficiently towards the most urgent issues has also grown. Bridgespan's Southeast Asia hub in Singapore will bring to the region its capabilities in philanthropic consulting, impact investing, nonprofit capability building and knowledge sharing, to serve investors, family offices and nonprofits within the region.

""Southeast Asia is one of the most diverse and populous regions in Asia. Projected to be the 4th largest economy in the world by 2030, Southeast Asia's growth trajectory is expected to continue, giving rise to the growth of high-net-worth individuals and family offices being established within the region, together with their desire to make meaningful change in society.

''We hope that with our capabilities, Bridgespan Southeast Asia can become the bridge for such donors with the right mission-driven organisations to achieve breakthrough results in addressing society's most important challenges and opportunities," said William Foster, managing partner, The Bridgespan Group. He emphasised that, "Bridgespan is deeply thankful for the support of Bain & Co. and the encouragement of the Singapore Economic Development Board (EDB) as we make this important commitment."

In Singapore, the number of family offices has also grown exponentially from fewer than 100 offices in 2017 to almost 700 offices today. The island state's strong reputation as a stable, reliable and trusted financial hub in Asia has contributed to its attractiveness as a base for HWNIs, as is its central location within the region. Establishing its Southeast Asia hub in Singapore is ideal for Bridgespan, as it seeks to serve organisations within Southeast Asia and Asia Pacific.

"We are thrilled to open our office in Singapore. This office will serve as a hub for our work in Southeast Asia and the broader Asia Pacific region. Singapore's plans to become a hub for philanthropy in the region, growth in family offices and regional NGO headquarters, and central location make it the ideal setting for us. Having this new base will enable us to work more closely and effectively with donors, impact investors, and nonprofits in the region.

''Not only will this ensure we can better understand their unique needs enabling us to provide advice and develop customised solutions, but it will also accelerate our own learning as an organisation and our ability to share lessons and insights from Southeast Asia with social sector leaders around the world.

''I am personally excited about the tremendous opportunities ahead to serve as a bridge in this island nation - a bridge between research and practice, between capital and impact, and between east and west, all in service of enabling thriving, equitable societies and a healthy planet." said Chris Addy, partner and Southeast Asia office head, Bridgespan Southeast Asia.

The Singapore office is Bridgespan's first physical location in Southeast Asia and second in Asia after its Mumbai office.