Chinese private equity (PE) heavyweight Hillhouse Capital Group has set up a new private fund business to invest in the stock market. The entity, called Shanghai Lingren Private Fund Management Partnership (LP), on Friday completed its registration (link in Chinese) with the Asset Management Association of China, a self-regulatory industry group.
With 10 million yuan ($1.6 million) of registered capital, it can manage up to 500 million yuan in privately offered funds that can invest in listed companies’ stocks and publicly traded bonds. The actual controller of the partnership is Xu Yulian, who is also actual controller of Tianjin Liren Investment Management Partnership (LP), another private fund business set up by Hillhouse in February 2018.
Xu previously worked at China International Capital Corp. Ltd. (601995.SH -0.73%), China’s first Sino-foreign joint venture investment bank, and accounting giant KPMG LLP.
Read more/Source: CaixinGlobal
