New Horizon Investment Management (NHIM) has divulged plans to expand its footprint in Australia with the opening of an office in Melbourne.

Founded in 1994, Hong Kong-based NHIM is a venture capital and private equity institution that caters to all global markets.

NHIM expanded into Australia in 2015, with the opening of an office in Sydney.

The firm said its current Sydney office has garnered huge interest with new clients since opening, and it is now set to expand throughout the country.

NHIM’s Melbourne new office is set to open in September this year.

New Horizon Investment Management head of portfolio management in Sydney James Spencer said: “After rapid growth with new clients since opening here in Sydney, we feel the time is right to expand to other parts of Australia so that we can be more easily accessible, this will be great news to our existing client base who live outside of Sydney.”

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Australian moves by other firms

This week, Japanese investment bank Nomura agreed to pick a 41% stake in Australian nature-based real assets and natural capital manager New Forests to its real asset business in private areas.

Last month, Australia-based Pendal Group said that it has received a $1.80bn non-binding takeover offer from investment manager Perpetual.

In March, Australia-based WT Financial Group struck a deal to buy its larger rival and privately-owned financial adviser group, Synchronised Business Services.

The same month, Zurich-headquartered Credit Suisse reportedly lodged a lawsuit against Australia’s Insurance Australia Group (IAG) in connection with the collapse of Greensill Capital.