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Who we are

Singapore-based Inwa Advisers' expertise is in matching international corporations to business opportunities and partners in the markets of emerging and frontier Asia. In the last two years, we have worked on projects in, and on behalf of customers in, Myanmar, Vietnam, India, Sri Lanka and Korea. We have also helped Asian customers establish partnerships with other institutions based in Europe.

We have been working on consumer-facing industrial JVs with regional MNCs, as well as on projects in agriculture, light manufacturing and services.

We specialise in new market entry strategies, including greenfield projects, JVs, partnerships, and acquisitions.

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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