China focused wealth and asset manager Noah Holdings has received an injection of capital into its rapidly expanding asset management business.
Noah Holdings a leading wealth and asset management service provider with a focus on global services for high net worth individuals and enterprises in China, has announced that Noah, Gopher Asset Management, has entered into an Investment and Cooperation Agreement with an affiliate of Sequoia Capital China, a private equity firm and an existing shareholder of Noah.
Subject to certain terms and conditions set forth in the Agreement, Sequoia will make a 348 million RMB strategic investment in Noah's asset management business by acquiring equity interests in an entity that will, through itself or its affiliates, hold all equity interests and asset management assets of Gopher.
Expansion on Track
Specialising in fund-of-funds management in the private equity, real estate, hedge funds, credit products and family office businesses Gopher was founded in March 2010 and has become one of the leading alternative asset managers in China. As of June 30, 2016, Gopher's total assets under management had reached RMB101.2 billion.
Noah Holdings hopes to utilise the fresh capital investment to strengthen their investment capabilities, while also expanding its presence in Hong Kong and the United States.
