Neuberger Berman launches onshore China unit

The wholly foreign-owned enterprise (WFOE) through which Neuberger will run this operation still needs to complete its registration with the Asset Management Association of China (AMAC). However, the firm is already staffing up with a view to working with a broader range of private banks, wealth management platforms and local institutions.

Recent appointments include Patrick Liu, formerly of HFT Investment Management, as head of China and general manager of the onshore business. Neuberger has also hired William Hui as head of China institutional business. Hui, who previously led the development of both the retail and institutional business at Deutsche Asset Management, will work alongside Marco Tang, the existing head of China retail business.

“As we further expand our investment and client coverage presence in the Asia Pacific region, China represents a significant growth opportunity for Neuberger Berman. We’re glad to have Patrick join us at this important time. I’m confident that our China business will attain new heights under Patrick’s leadership,” said Nick Hoar, head of Asia Pacific at Neuberger, in a statement.

Neuberger manages a range of equity, fixed income, private equity and hedge fund strategies on behalf of institutions, advisors and individual investors worldwide. Of its $267 billion in assets under management, $58 billion is deployed and committed in alternatives alone. Within private equity, it covers primaries, co-investments and secondaries, and also acquires minority stakes in GPs.

International asset managers are increasingly interested in servicing China’s nascent LP community, which has minimal exposure to private equity, particularly offshore funds. In addition to China Investment Corporation (CIC), the State Administration of Foreign Exchange (SAFE), and growing number of insurance companies, high net worth individuals are also being targeted, often through private banks and independent wealth managers.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Save this article  
• Send to  

• Topics
• Greater China
• Fundraising
• LPs
• People
• China
• Neuberger Berman
• Appointments