HQ Capital (HQC), an independent manager of alternative investments, has formed a joint venture with the Chinese investment firm Yuanju Capital Management Co, to establish a wealth management platform.
The new platform, based and regulated in China, aims to provide the country’s fast growing wealth and asset management markets a range of RMB-denominated direct investments and pooled product offerings, including private equity, venture capital and mutual funds, as well as and the distribution of appropriate international investment products.
In 2017, Yuanju was co-founded by the Chinese state-owned asset manager Everbright Financial Holding Asset Management Co (Everbright Financial Holding), a wholly owned subsidiary of China Everbright Group, and PE/VC-specialised Chinese wealth manager Prosnav Capital Management Co (Prosnav).
David Huang, founder and CEO of Prosnav, says: “We are excited about this joint endeavour and will contribute our strong local market expertise, drawing on our agile and dynamic team with a track record of more than a decade of providing wealth management services in China to entrepreneurs and other high net worth individuals, as well as our network in China’s domestic PE market.”
Jianju Du, CEO of Everbright Financial Holding, adds: “Our strong relationship with the government and financial services regulators in China will be beneficial while navigating our joint venture through the complex Chinese regulatory landscape. By utilising our strong SOE network and our local resources, the newly established wealth management platform aims to attract investors, such as local government-related entities or corporations.”
Georg Wunderlin, CEO of HQ Capital, says: “The joint venture with Yuanju marks yet another milestone in the development of our business in the region. We look forward to applying our group’s unique background and extensive experience of managing private equity assets for private individuals and family offices to wealth management in China. On top of that, we are confident that our strong German roots and network will be attractive to Chinese investors pursuing opportunities in Germany and worldwide.”