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# 489 Zhang Lei $5.26B

Random fact: Invested in Zoom after meeting founder Eric Yuan in 2015.

Overview

Zhang is the founder and chief executive officer of Hillhouse Capital Group, a Chinese private equity firm with about $60 billion in assets under management. The Hong Kong-based group operates across Asia and was an early investor in some of China's most successful technology companies including Tencent, Didi and JD.com.

As of :
Last change +$19.2M ( +0.4%)
YTD change -$1.19B ( -18.5%)
Biggest asset HCA Investments
Country / Region China
Age 48
Industry Finance
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Zhang Lei's net worth of $5.26B can buy ...

0
troy ounces of gold
0
barrels of crude oil

... and is equivalent to ...

0%
of the GDP of the United States
0%
of the total wealth of the 500 richest people in the world
0%
of the top 100 U.S. college endowments
0%
of the top 200 U.S. executives’ total awarded compensation
0%
of U.S. existing home sales
0
times the median U.S. household income

Latest News

Net Worth Summary

Cash
Private asset
Public asset
Misc. liabilities
Confidence rating:

Zhang is the founder and chief executive officer of Hillhouse Capital Group, a Chinese private equity fund. Hillhouse Capital has offices in Hong Kong, Beijing and Singapore, and was an early investor in Tencent, Didi and JD.com, according to the company's website.

Zhang owns all of Hillhouse Capital, according to a March 30, 2020 company brochure. Hillhouse Capital has two investment management companies, Hillhouse Capital Advisors and Hillhouse Capital Management.

Hillhouse Capital Advisors had assets under management of $39 billion as of Dec. 31, 2019 and Hillhouse Capital Management had assets of $20 billion on the same date, according to company filings.

Zhang's investments in the funds are calculated based on assets under management and the reported holdings of related persons, according to regulatory filings as of March 30, 2020.

The valuation of Hillhouse Capital Advisors is based on reported assets under management and the average price-to-assets under management multiple of four publicly traded peers: Man Group PLC/Jersey, AllianceBernstein Holding LP, Pzena Investment Management Inc and Artisan Partners Asset Management Inc.

The valuation of Hillhouse Capital Management is based on reported assets under management and the average price-to-assets under management multiple of three publicly traded peers: KKR & Co Inc, Carlyle Group Inc and Apollo Global Management Inc.

A $2.5 billion liability is applied based on an analysis of investments and performance fees.

Zhang declined to comment on the net worth calculation.

Biography

Birthdate:
Family: Married, 2 children
Education: Yale School of Management, Renmin University of China, Yale University

Zhang Lei was born in the Henan province in the northern part of China.

He studied international finance at Renmin University of China and graduated in 1994. Zhang then attended Yale University in the U.S. and later received an internship at Yale's endowment office. In 2005, he went back to China and set up Hillhouse Capital with $20 million from the endowment office, according the company's website.

The Chinese name of the company is taken from the idiom – “pouring water off a steep roof,” which means to take a commanding height and operate from a strategically advantageous position. The English name is from a street that runs through Yale’s campus.

Hillhouse Capital was an early investor in some of China's internet giants, including Tencent's WeChat, Mobike, Didi and JD.com. It completed a $10.6 billion fund raising in 2018 and managed about $60 billion in investments.

Milestones
  • 1994 Graduated from Renmin University of China.
  • 2005 Hillhouse Capital was founded with $20 million under management.
  • 2011 Donated funds to establish the Hillhouse Academy at Renmin University of China.
  • 2018 Completed $10.6 billion fund raising for its largest buyout fund.