Peterhouse Asset Management is to be rebranded and relaunched as South River Asset Management following its acquisition by a Chinese conglomerate.
ZZ UK, a subsidiary of Zhejiang Zhongnan Holdings Group, has acquired both Peterhouse Asset Management and Peterhouse (Capital) Guernsey and plans to use its existing platform to offer a range of specialist mandates to investors.
It currently offers the group's flagship Gold and Precious Metals fund, managed by Amanda Van Dyke, now a director of ZZ UK, who was a finalist in Investment Week's Women in Investment Awards 2017, and a range of segregated mandates with AUM totalling £100m.
There are also plans to expand the suite of multi-asset funds, managed by South River (Guernsey) and advised by South River Asset Management, ranging in scope from Cautious Cash+ products to Diversified mixed asset and single-strategy products.
Van Dyke said: "ZZHG is a top 500 Chinese private enterprise and has ambitions to grow in asset management, both here in the UK and in China. As the leading conglomerate in Zhejiang province, where ZZHG has been headquartered for 34 years, the group has access to a superb network of individuals who want to invest in Europe to grow their wealth, and we are delighted to be involved in a true east/west partnership."
Wei Wu, president of Zhejiang Zhongnan and chairman of Zhejiang Chengxiang Investment Company, said: "We are delighted to have partnered with the PAM Management Team to acquire Peterhouse Asset Management and Peterhouse (Capital) Guernsey.
"The strength of the fund management operation in London provides a robust investment platform and a genuine partnership between East and West.
"With Zhejiang Zhongnan's network and reputation in China, we believe we can develop strong growth in the future."
Richard Battersby, director of South River (Guernsey) Limited commented: "This is a very positive development for our Guernsey clients in our view. Zhejiang Zhongnan's reputation is excellent and long standing and the interest being shown in the island by such an important Chinese investor is highly encouraging.
Stephen Watson, CEO of South River Asset Management, added: "We warmly welcome the Zhejiang Zhongnan Holdings Group as our new owner and partner. The combination of the experienced team in London backed by a leading Chinese shareholder is very exciting for the group."
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