ZZ UK is a subsidiary of Zhejiang Zhongnan Holdings Group, a Chinese diversified conglomerate, which also acquired Peterhouse (Capital) Guernsey.
The businesses have been renamed South River Asset Management and South River (Guernsey), respectively.
The boutique investment business will use its existing platform to offer a range of specialist mandates to investors.
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. 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.
Van Dyke, 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, said: “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.”
South River and South River Guernsey manage combined assets of $100m (£72m).