Dynasty to dynasty: US banking heiress reaches out to Asian billionaires

Jennifer Steans, the South Chicago-based stewardess of her family’s fortune, is reaching out to billionaires across Asia to forge investment partnerships and offer them a gateway into the US.   

She has already handpicked two Asia-focused private equity funds, Wavemaker and Asia Partners, and is in talks with family offices in both Hong Kong and Singapore about cross-border deals.

Increasingly, the world's wealthy elite are tapping their personal networks to source profitable deals rather than employing private bankers that have traditionally performed the role of matchmaker. A survey by UBS, the world's biggest private bank, suggests that four in 10 rich people source...