Nomura Asset Management, a wholly owned subsidiary of Nomura Holdings, has formed a joint venture with Shenzhen Hua Xia Ren He Capital Management to launch a private fund business in the Qianhai Economic Zone in Shenzhen, China.
Known as Nomura China Asset Management Co, the joint venture has received approval from the city of Shenzhen to sponsor and manage a Qualified Foreign Limited Partner (QFLP) fund.
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Nomura said that the QFLP funds will enable non-resident investors to invest in private equity funds and venture capital funds domiciled in China.
The joint venture has been established with a initial capital of RMB13 million and seeks to explore business opportunities with high-net-worth and institutional investors in China.
In addition, it also offers investment strategies to foreign investors via the QFLP framework.
Moreover, the joint venture will expand Nomura Asset Management’s presence in Chinese market and will also develop new businesses in China.
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