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Who we are

Singapore-based Inwa Advisers specialise in matching multinational corporations and other institutions to investment opportunities and projects in South and South East Asia. We have a particular, but not an exclusive, focus on Myanmar and Vietnam. We are currently working on a number of consumer-facing industrial JVs with regional MNCs, as well as projects in agriculture and financial and other services.

Our people

Our two key professionals each have more than 25 years’ investment and advisory experience, most of it in Asia, based out of Japan, Korea, Hong Kong and Singapore.

We combine experience in corporate finance, private equity and investment management and have worked together successfully since the mid-1990’s.

We have both managed direct investment funds for the Korean government in 2000-2004, restructuring SMEs in the wake of the Asian financial crisis, and serving on the boards of numerous companies.

We developed and implemented strategies for investment in emerging market and Asian equities on behalf of global institutional investors at our own investment boutique from 1997–2012.




Adrian Cowell

  • Founder of Inwa Advisers
  • 25 years living in Japan, Korea and Singapore;
    • Sumitomo Bank, Kleinwort Benson and Rexiter Capital Management
    • Experienced portfolio manager and analyst investing in Korea
    • public listed equities, private and direct investment, restructuring, foreign capital introduction, advisory and joint ventures
    • Korea Growth Opportunities Fund (KGOF) and Rexiter Korea Midcap Equity Fund (RKMCEF)
    • manager of the Arirang Corporate Restructuring Fund for the Korean government (2000-2004)
  • Senior portfolio manager and analyst with Rexiter Capital Management
    • Asia ex Japan strategy, GEM and Korea country funds
  • 15 years experience in corporate finance with Kleinwort Benson
    • London, Tokyo, and Seoul
    • Cross border M&A, advisory business, capital markets
  • Sumitomo Bank and Grindlay Brandts/ANZ Merchant Bank


Christopher James

  • Founder of Inwa Advisers
  • 17 years living in Hong Kong, Korea and Singapore
    • Kleinwort Benson Investment Management and Rexiter Capital Management
  • Experienced portfolio manager and analyst
    • investments in India, South East Asia, Greater China and Korea
    • public listed equities, private and direct investment, restructuring, foreign capital introduction, advisory and joint ventures
    • manager of the Mukoonghwa Corporate Restructuring Fund for the Korean government 2000-2004.
    • senior manager in a fund management JV with India’s Tata Group (1994-1997)
  • Strength in fundamental company analysis
  • Successful sponsor and developer of emerging markets investment boutique (Rexiter, 1997-2012)
    • Peak assets under management c. US$ 10bn for 100+ institutional clients across the globe
  • Internal audit


Last modified: 15 October 2014

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