Frankfurt-based asset manager HQ Capital has signed a joint venture agreement with Chinese investment firm Yuanju Capital to create a wealth management platform.
The new platform will be based in China, according to a joint statement by the companies. Yuanju is a multi-strategy fund manager set up by Chinese state-owned asset manager Everbright Financial Holding Asset Management and Chinese private equity fund Prosnav Capital.
The new venture aims to exploit both companies networks to generate synergies between China and overseas markets, particularly with Germany in order to offer clients more investment opportunities.
Georg Wunderlin, CEO of HQ Capital, said: “The joint venture with Yuanju marks yet another milestone in the development of our business in the region”. “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,” he added.
Jianju Du, CEO of Everbright Financial Holding, added: “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.
HQ Capital is a independent manager of alternative assets. The firm’s 140 employees currently manage $11.3 billion in total assets from 10 offices in North America, Europe and Asia.