Print this article

Acquisition Sparks London Asset Manager Launch

Robbie Lawther

13 February 2018

, a specialist asset management company based in the City of London, has launched following Zhejiang Zhongnan's management-backed acquisition of Peterhouse Asset Management.

ZZ UK is a subsidiary of Zhejiang Zhongnan Holdings Group, a Chinese conglomerate, and has acquired both Peterhouse Asset Management and Peterhouse (Capital) Guernsey from Peterhouse Capital Management, the firm said in a statement.

The businesses have been renamed South River Asset Management and South River (Guernsey). 

The boutique investment business will use its existing platform to offer a range of services to investors. Funds offered at launch by South River include the group’s flagship Gold and Precious Metals fund, managed by a director of ZZ UK and senior fund manager at South River, Amanda Van Dyke. 

The firm's principals in London are Van Dyke and South River Asset Management chief executive, Stephen Watson, and they are supported by around 10 professionals in investment management, marketing and sales, and operations and compliance.

The total assets under management for the firm are around $100 million.

"The strength of the fund management operation in London provides a robust investment platform and a genuine partnership between East and West,” said Wei Wu, president of Zhejiang Zhongnan and chairman of Zhejiang Chengxiang Investment Company. “With Zhejiang Zhongnan’s network and reputation in China, we believe we can develop strong growth in the future.”

Watson 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.”

The financial terms of the deals were not disclosed.