Launch of Chinese-backed boutique investment business

A London-based asset management business has launched with major new Chinese backers.

South River Asset Management has made its debut following the managementbacked acquisition of Peterhouse Asset Management by Zhejiang Zhongnan UK (ZZ UK) from Peterhouse Corporate Finance.

ZZ UK is a subsidiary of Zhejiang Zhongnan Holdings Group (ZZHG), a Chinese conglomerate, and has acquired both Peterhouse Asset Managementandpeterhouse(capital) Guernsey.

The businesses have been renamed South River Asset Management and South River (Guernsey), in a nod to Zhe- jiang Zhongnan’s riverside location in China. The boutique investment business will use its platform to offer “a range of specialist mandates to investors, with the financial strength of a top Chinese company supporting its future growth and ambitions”.

Amanda Van Dyke, director of ZZ UK and senior fund manager at South River Asset Management, said: “ZZHG is a top 500 Chinese private enterprise and has ambitions to grow in asset management, both in the UK and China. We are delighted to be involved in a true east/west partnership.”

Stephen Watson, chief executive of South River Asset Management, said the combination of an “experienced team in London backed by a leading Chinese shareholder was “exciting”. 0 Amanda Van Dyke hails the ‘true east/west partnership’