# Aspex Management (HK) Limited

Aspex Management (HK) Limited is a RIA based in Hong Kong, Hong Kong.

## Overview

- **Organization type:** RIA
- **Headquarters:** Hong Kong, Hong Kong
- **Region:** Asia
- **Address:** Hong Kong, Hong Kong, China
- **Founded:** 2018
- **Assets under management:** Undisclosed (Altss estimate)
- **Website:** aspexmanagement.com

## Regulatory record

- **CRD number:** 300189
- **SEC file number:** 802-115265
- **Registration status:** Registered
- **Reports private funds:** Yes
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/300189

## About

ASPEX MANAGEMENT (HK) LIMITED is an exempt reporting adviser in Hong Kong. It is based in Hong Kong.

## Sectors

- Technology
- Financial Services
- Healthcare
- Consumer

## People

- David I. K. Teoh — Founder and Chief Investment Officer
- Hermes Li — Co-Founder and Chief Executive Officer

## Questions

### How does Aspex Management source deal flow?

Aspex leverages David Teoh's two-decade relationship network from TPG Capital Asia, along with Hermes Li's technology and deal sourcing expertise. The firm focuses on publicly listed equities, but also engages in private placements and secondary market block trades where its network provides proprietary access (per SEC filings).

### What investment stages does Aspex Management target?

Aspex targets listed Asian equities with a value-oriented bias — essentially, public market companies. It has not been involved in venture capital or growth equity stages, differing from many US family offices.

### Does Aspex Management use leverage or derivatives?

The firm's stated strategy explicitly avoids leverage, options, and derivatives, focusing instead on long-only concentrated equity positions. This is evident from SEC filings showing no short positions or derivative exposures.

### What are Aspex Management's known top holdings?

Based on mandated SEC 13F filings, Aspex has reported significant positions in Alibaba, JD.com, Baidu, NIO, and selected Chinese bank stocks. These positions are updated quarterly but do not represent the full portfolio due to confidentiality thresholds (per SEC filings).

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Last updated: 2026-08-14T12:30:00.000Z

Canonical page: https://altss.com/profile/aspex-management-hk-limited

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