Japan’s Nomura backs Shanghai-based private equity fund

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Japanese financial group Nomura Holdings is to invest in Jiu You Quan Xing Equity Investment Fund, a private equity fund based in Shanghai.

The investment follows Nomura’s approval as a Qualified Foreign Limited Partner (QFLP) by the Shanghai municipal government.

Nomura will participate as a limited partner in the fund managed by Jiu You Equity Investment Management, which invests in the high tech and biopharmaceutical industries.

Nomura was the first foreign investment bank to enter the Chinese mainland back in 1982,.

QFLP pilot programmes are currently run by a number of China’s major cites, including Shanghai. The Shanghai programme allows approved foreign investors to convert foreign currency into yuan and directly invest in private equity funds based in Shanghai. Nomura was the first Japanese financial institution to qualify for the program.

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