German asset manager HQ Capital has formed a joint venture (JV) with Yuanju Capital, a Chinese investment firm co-founded by Everbright Financial Holding Asset Management and Prosnav Capital Management, to build a new wealth management platform.

The JV aims to exploit the resources of the two firms to generate synergies between China and overseas markets, mainly with Germany to create better investment opportunities for clients.

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Commenting on the JV, HQ Capital CEO Georg Wunderlin said: “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.”

Through the new China-based platform, the companies aim to offer clients access to RMB-denominated direct investments and pooled products such as private equity, venture capital as well as mutual funds. The platform will also support the distribution of appropriate international investment products.

Everbright Financial Holding CEO Jianju Du said: “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 utilising 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.”