HQ Capital has formed a joint venture with Yuanju Capital Management Co. Ltd to form a wealth management platform. The new platform will be based in China.
New York, Frankfurt, Hong Kong, Shanghai and Beijing. 2 July 2018 – HQ Capital (“HQC”), a leading independent manager of alternative investments, announced the formation of a joint venture with the Chinese investment firm Yuanju Capital Management Co., Ltd. (“Yuanju”) 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., Ltd. (“Everbright Financial Holding”), a wholly owned subsidiary of China Everbright Group, and PE/VC-specialized Chinese wealth manager Prosnav Capital Management Co., Ltd. (“Prosnav”).
The strategic cooperation between Yuanju and HQC combines resources, expertise, experience, international best practices in governance and operations of China Everbright Group, Prosnav and HQC. By exploiting their global networks and generating synergies between China and overseas markets, particularly with Germany, Yuanju and HQC will be better able to offer their clients unique and attractive investment opportunities.
David Huang, founder and CEO of Prosnav, said: “We are excited about this joint endeavor 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, 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. By utilizing 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, commented: “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.”
About HQ Capital
HQ Capital is a leading independent manager of alternative assets, investing on behalf of institutions and families in global private equity and U.S. real estate since 1989. The firm’s 140 employees currently manage USD 11.3 billion in total assets from 10 offices in North America, Europe and Asia. With its innovative and entrepreneurial culture, strong investment acumen, and commitment to social responsibility, HQ Capital is a trusted partner to its clients worldwide. Further information can be found at www.hqcapital.com.
About Yuanju Capital Management Co., Ltd.
Co-founded in 2017 by Everbright Financial Holding Asset Management Co., Ltd. (“Everbright Financial Holding”) and Prosnav Capital Management Co., Ltd., (“Prosnav”), Yuanju is specialized in Fund of Fund, Private Equity and Venture Capital investments. Clients include institutional investors and high net worth individuals.
Everbright Financial Holding is a wholly owned subsidiary of the Chinese state-owned China Everbright Group and was founded in 2009. China Everbright Group with headquarters in Beijing is the first financial holding company approved by The State Council. Its AUM exceeded RMB 4.5 trillion ($690 billion) and it generated annual profits of more than RMB 42 billion ($7 billion) in 2017. The group’s business activities include commercial banking, securities, insurance, mutual funds, PE funds, futures and asset management. As the group’s asset management arm, Everbright Financial Holding focuses on the investment and management of PE funds, mezzanine funds, VC funds, securities investment funds and monetary market funds. It also engages in equity investment, wealth management and investment consulting services.
Prosnav was founded in 2009 and is headquartered in Shanghai. As of January 2017, the firm‘s AUM amounted to more than RMB 14 billion (including USD investments). Prosnav focuses on asset and wealth management. In particular, the company offers clients financial services and solutions in outbound wealth management and family wealth management.