Creation of first private equity fund of funds investment company in China
Beijing, December 9, 2009 – Adveq Holding, parent company of Adveq Management, a leading independent investment manager of private equity fund of funds with branches in Beijing, New York, Frankfurt and Zurich, and Dalian United Holding, a Chinese investment holding company based in Dalian, with businesses in the fields of financing leasing, guarantee, banking and private equity investing in China, today announced the formation of a jointly owned investment management company in China. The new company will be the first non-government private equity fund of funds investment company in the People’s Republic of China.
Adveq Holding AG and Dalian United Holding Co., Ltd., today signed a letter of intent to form a jointly owned company. The new entity, in which both Adveq and United will hold a 50%-stake each, will be incorporated under the laws of the People’s Republic of China. Its purpose is to pursue investment management and related service activities in private market investing in China. The initial prime focus will be the formation of RMB denominated private equity fund of funds and related service activities in China. The newly formed company will be the People’s Republic of China’s first non-government private equity fund of funds investment manager.
Dalian United Holding’s Chairman, Mr. Zhenxin Zhang, says: “Looking at the Chinese market, we see tremendous opportunities to develop our activities within the scope of RMB denominated private investing. With Adveq, we are happy to have gained a partner with significant global experience in this business.”
Adveq Holding’s Chairman, Bruno Raschle, adds: “Adveq has been pioneering private equity fund of funds investment management in Europe, North America and across Asia Pacific. Now we are looking forward to do the same in China, where together with United’s China expertise we can leverage the know-how we have built over time and where we can develop synergies with our existing Asian business activities.”
About Dalian United Holding
Dalian United Holding is an investment management holding company incorporated in Dalian, the People’s Republic of China. It holds leading businesses in the fields of financing leasing, guarantee, banking and private equity investing.
About Adveq
Adveq Holding is the parent company of Adveq Management which, based in Zurich, with USD 4 billion of assets under management is one of the world’s leading independent managers of private equity funds of funds. Founded in 1997, Adveq Management has offices in Zurich (Switzerland), Frankfurt (Germany), New York (USA) and Beijing (China) and a representative office in Sydney (Australia). Most of Adveq’s clients are international institutional investors, who benefit from the company's global network of over 120 first-class fund managers around the world.
Further information
In China:
Ms Rong Li
Fortune China Public Relations Ltd
E-Mail: rong.li(at)fortunechina.com.cn
Tel. +86 (10) 6310 0088 826
In other markets:
Stefan Bannwart
E-mail: sb(at)stefanbannwart.com
Tel.: +41 (0)43 288 32 00
