South River Asset Management launches in UK
South River Asset Management, a specialist asset management company based in the City of London, has launched following the management-backed acquisition of Peterhouse Asset Management Ltd by Zhejiang Zhongnan UK Ltd (ZZ UK)  from Peterhouse Corporate Finance Ltd.
ZZ UK is a subsidiary of Zhejiang Zhongnan Holdings Group (ZZHG), a leading Chinese diversified conglomerate, and has acquired both Peterhouse Asset Management Ltd and Peterhouse (Capital) Guernsey Ltd. The businesses have been renamed South River Asset Management Ltd and South River (Guernsey) Ltd. The names reflect the location of Zhejiang Zhongnan on the Qiantang river in Hangzhou, Zhejiang Province and the new logo represents the link between east and west.
The boutique investment business will use its existing 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.
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 business also manages a range of segregated mandates for institutions including UK universities and a suite of multi-asset funds is managed by South River (Guernsey) and advised by South River Asset Management, ranging in scope from Cautious Cash+ products to Diversified mixed asset and single strategy products. Total assets under management currently at circa $100m.
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 here in the UK and in China. As the leading conglomerate in Zhejiang province, where ZZHG has been headquartered for 34 years, the group has access to a superb network of individuals who want to invest in Europe to grow their wealth, and we are delighted to be involved in a true east/west partnership.”
Wei Wu, President of Zhejiang Zhongnan and Chairman of Zhejiang Chengxiang Investment Company Limited, said: “We are delighted to have partnered with the PAM Management Team to acquire Peterhouse Asset Management and Peterhouse (Capital) Guernsey. The strength of the fund management operation in London provides a robust investment platform and a genuine partnership between East and West. With Zhejiang Zhongnan’s network and reputation in China, we believe we can develop strong growth in the future.”
Richard Battersby, Director of South River (Guernsey) Limited commented: “This is a very positive development for our Guernsey clients in our view. Zhejiang Zhongnan’s reputation is excellent and long standing and the interest being shown in the island by such an important Chinese investor is highly encouraging.
Stephen Watson, CEO of South River Asset Management, 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.”
 ZZUK was advised by Memery Crystal LLP