Zhang Lei (investor)
Zhang Lei | |
|---|---|
| Born | 1972 Zhumadian, Henan, China |
| Occupation(s) | Investor, philanthropist |
| Years active | 1999–present |
| Known for | Founder and chairman of Hillhouse Investment |
Zhang Lei (born 1972) is a prominent Chinese investor and philanthropist, recognized as the founder and chairman of Hillhouse Investment, a private equity firm concentrating on Asian markets.
Early life and education
Zhang was born in 1972 in Zhumadian, located in Henan province. He completed his undergraduate studies in economics at Renmin University in 1994. In 1999, he became a mentee of David F. Swensen, the chief investment officer of the Yale Endowment, which significantly shaped his career path. This mentorship led to an internship at the Yale Endowment, marking Zhang’s initial foray into the finance sector. During his time at Yale, he translated Swensen’s Pioneering Portfolio Management into Chinese, coining new terminology for concepts such as "endowment" and "fiduciary." Swensen’s investment approach has profoundly influenced Zhang’s philosophy.
By 2002, Zhang had earned both an MBA and an MA in international relations from Yale University. Following his graduation, he joined EMM, an equities firm based in Virginia, where he concentrated on investments in Southeast Asia. Additionally, Zhang holds the designation of a certified chartered financial analyst (CFA).
Career
In 2005, Zhang established Hillhouse Investment with an initial capital injection of $20 million from Yale University's endowment fund. As of September 2018, Hillhouse oversees approximately US $50 billion in assets, emphasizing global investments with a strong focus on Asia. Notable investors include Yale, Stanford University, and the Canada Pension Plan Investment Board (CPPIB).
Hillhouse also successfully raised over $2 billion for its Real Assets Opportunities Fund (RAOF), which includes $300 million contributed by CPPIB.
Zhang serves on various distinguished boards: he is a founding board member of the United World College (UWC) of Southeast Asia Foundation; vice chairman and trustee at Renmin University of China; trustee at Yale-NUS College; chairperson of the Yale Asia Development Council; and a member of the Hong Kong Financial Services Development Council. In June 2016, he was appointed as a successor trustee by the Yale Corporation. In 2020, Zhang joined FCLTGlobal’s board of directors and participates on the advisory board for the Bloomberg New Economy Forum.
According to Forbes as of July 2025, his net worth is estimated to be $3.0 billion.
Personal life
Zhang lives in Hong Kong and holds citizenship in Singapore. He is married and has two children.
Philanthropy
In 2014, Zhang made a donation totaling US$8.88 million to the Yale School of Management, representing the largest alumni gift at that time. He established Gaoli Academy (高礼研究院) in collaboration with Renmin University to promote education and research initiatives. Earlier, in 2010, he contributed $1.4 million to Renmin University and later provided $43 million in 2017 to create an educational fund; during that year, he also delivered the commencement speech. Together with Renmin University, Hillhouse Academy was launched to equip business students with skills for technological innovation. Moreover, Zhang has been a supporter of the BN Vocational School (BNVS) in China.
In 2017, he financed the low-budget docudrama Kang Rinpoche (Paths of the Soul).