Tycoon Lawrence Ho broadens portfolio beyond casinos, partners with real estate brokerage IFCX
Black Spade Capital, the family office of Macau casino executive Lawrence Ho, has made a new move into the real estate sector with an undisclosed investment in IFCX, a Hong Kong-based brokerage firm. According to media reports, the investment is part of a broader strategy to expand influence in Asia’s property and alternative asset markets while continuing a trend of diversification away from Ho’s core casino interests.
Founded in 2014 by former Morgan Stanley banker Kingston Lai, IFCX specialises in connecting institutional investors with alternative assets such as property, fine art, wine, and other collectibles. The company also acts as an agent for developers in regions such as Cambodia, Malaysia, the Middle East, Thailand, the UK, and Vietnam. Through its platforms, such as the Asian Bankers Club, Knightsbridge Partners, and Easy Pro, IFCX provides a range of services, from direct sales to property management and global residency solutions.
Several media reports indicated that the partnership with Black Spade will enable IFCX to extend its reach among high-net-worth individuals and tap into hospitality and entertainment networks across Asia. The firm has also announced plans to integrate artificial intelligence (AI) tools into its offerings, including predictive analytics and investor engagement platforms.
Strategic move into technology and networking
Beyond geographic and sector expansion, IFCX is preparing to launch a new club aimed at ultra-high-net-worth individuals, with a membership cap of 200. This invitation-only initiative will target individuals with at least $30 million in assets, providing exclusive networking and deal-making opportunities.
Black Spade’s investment also includes representation on IFCX’s board, indicating a hands-on approach to the firm’s strategic development. With around 80 in-house agents and over 2,000 business-to-business partners, IFCX’s client base is heavily concentrated in Hong Kong, which accounts for up to 40 percent of its business.
Going beyond casinos
Lawrence Ho, chairman and CEO of Melco International Development and son of the late casino magnate Stanley Ho, has been actively seeking opportunities outside of Macau’s casino sector. This investment follows Black Spade’s involvement in a range of non-gambling ventures, including electric vehicle manufacturer VinFast Auto and media and entertainment firm World Media and Entertainment Universal.
In 2023, Ho’s special purpose acquisition company finalised a multi-billion-dollar merger with VinFast, while a previous SPAC launched in 2021 completed a US$23 billion deal with the Vietnamese automaker. These moves reflect Ho’s response to tightening regulations on gambling in Macau and a desire to pursue broader business ventures, including a potential integrated resort in Thailand, contingent on legal developments in that country.
Melco also plans to open a casino in Sri Lanka later this year as part of its broader strategy to maintain and expand its presence in Asia’s hospitality and gaming sectors.
