Nomura Asset Management formed a 50-50 joint venture with Shenzhen Hua Xia Ren He Capital Management Co. to offer China-domiciled private equity funds and venture capital funds to domestic and overseas investors.
Tokyo-based Nomura Asset Management becomes the first overseas money manager outside of Hong Kong to get a license, through the joint venture, from the city of Shenzhen to sponsor and manage qualified foreign limited partner funds, said a Nomura spokeswoman.
The joint venture, Nomura China Asset Management Co., is capitalized at 13 million renminbi ($2.1 million).
The spokeswoman couldn't immediately provide the names of Nomura executives to be based in Shenzhen.
