Our reporter Chang Xiaoyu
Private equity fund industry reappears strong alliance cases. On May 22, Shanghai Zhengxinggu Investment Management Co., Ltd. (hereinafter referred to as "Zhengxinggu Capital") and Shanghai Runshi Private Equity Fund Management Co., Ltd. (hereinafter referred to as "Runshi Fund") announced on the same day that the two institutions would start business and personnel integration in the near future.
Runshi Fund was founded by famous fund manager Lei Ming after leaving the public offering in 2022. According to Zhengxingu Capital, after the integration of the two institutions is completed, Lei Ming will join Zhengxingu Capital Private Equity Investment Fund Manager - Zhejiang Yiwu Tanzhen Investment Management Partnership (Limited Partnership) as a partner and investment director. The existing business and team members of Runshi Fund will also join.
According to the public data, Lei Ming has been engaged in the asset management industry for 17 years. Since joining the Huitianfu Fund in 2007, he has been engaged in research work in multiple industry fields. Later, he began to manage the public fund portfolio in March 2014, and successively served as the fund manager of Huitianfu's growth focus, Huitianfu's blue chip stability, Huitianfu's classic growth and other funds, During the period of employment, the total management scale was nearly 30 billion yuan.
Lei Ming will also become another 10 billion yuan fund manager who joined Zhengxingu Capital in recent years. In September 2022, Zhang Xiaoda, the former Ping An Pension Investment Manager, joined Zhengxin Valley Capital. He was once responsible for the management of pension account stock investment of large central enterprises, with a management scale of nearly 13 billion yuan.
In addition, according to the introduction of Runshi Fund, up to now, in the market environment where the overall performance of Shanghai and Shenzhen stock markets has been poor in the past two years, Runshi Fund has achieved good absolute returns in managing products. After the completion of the integration, Lei Ming will focus more on investment research business, and the original products of Runshi will continue to be solely responsible for investment management by Lei Ming.
According to the information publicized by the China Securities Investment Fund Association (hereinafter referred to as the "China Foundation Association"), Zhengxin Valley Capital was founded in June 2015, with a management scale of more than 10 billion yuan, and the types of institutions are private equity and venture capital fund managers. In 2017, Zhejiang Yiwu Tanzhen Investment Management Partnership (Limited Partnership) was established and registered, with a management scale of more than 10 billion yuan. Runshi Private Equity was established in August 2022, with a management scale of 500 million to 1 billion yuan. It has filed 19 funds, of which 2 products have been liquidated.
Public information shows that Zhengxingu Capital focuses on the primary market and has invested in star companies such as Didi, Byte Beat and Bilibili, while Runshi Fund focuses on equity investment in the secondary market. The average working life of the core investment team exceeds 15 years. At the same time, the founders of Zhengxin Valley Capital, Lin Lijun and Lei Ming, were both "Huitian Rich", and they have worked together for many years in Huitian Rich Fund.
Zhengxingu Capital said: "After the completion of integration with Runshi Fund, it will continue to work to build a first-class investment research platform, attract outstanding talents to join, adhere to the absolute return as the priority, pay more attention to the absolute return experience of customers, become an excellent absolute return investment institution in the long run, and create a platform for gathering excellent value investors."
"There are several reasons behind the two major private equity firms will start business and personnel integration." Sun Enxiang, wealth management partner of Paipai, told the Securities Daily that: first, through integration, private equity firms can expand their scale, enhance their competitiveness, and optimize the allocation of resources; Second, through integration, private equity institutions can have more diversified investment strategies and asset allocation, and reduce the impact of single market or asset category fluctuations on performance; Third, through integration, private equity institutions can concentrate more professionals and resources, improve investment research strength and corporate governance, and help private equity institutions operate more professionally and meticulously; Fourth, through integration, private equity institutions can enhance their market competitiveness and provide more comprehensive services; Fifthly, through integration, private equity institutions can enhance their brand influence and attract more investors by using the overall brand effect after the merger.
According to the Securities Daily reporter, this integration is not the first in the industry. As early as July 2020, Xingju Investment changed the shareholder and the actual controller to Ruijun Asset. The original core staff of Xingju Investment invested in Ruijun Asset. At that time, Xingju Investment announced that the two private equity institutions had achieved substantive merger on the new Ruijun asset platform.
Massive information, accurate interpretation, all in Sina Finance APP
Editor in charge: Jiang Yuhan
