according to chinasecurityNewspapers, China Business News and other media reported that a Chinese private equity firminvestIt is reported that Zhang Yinghao, president of the institution ─ “Rock Capital”, has snatched the money and fled. The amount involved is about 1.2 billion yuan (about US$167 million), and about 4,500 investors are affected. Dongguan Municipal Public Security Bureau has now registered a case for investigation. Online photos show that Rock Capital’s Shenzhen office is “empty of people.”
China Business News reported that Zhang Yinghao said in the company’s employee group on the evening of the 14th: “I’m leaving, you should also go,” and then lost contact.
A former Rock Capital employee said that in theory, equity investment funds are held in the custody of third parties and should not be easy to withdraw. Zhang Yinghao has snatched away the wealth of the group’s material sector this time. According to preliminary internal calculations, it is at least 800 million yuan. However, according to company insiders and investors, the amount involved in the event could be up to 1.2 billion yuan, involving about 4,500 investors.
Public information shows that the operating unit of Lock Capital is Shenzhen Qianhai Lock Investment Co., Ltd., and its founder and chairman Zhang Yinghao once worked inGoldman SachsGroup, Ping An Financial Group, etc. have been engaged in the investment industry for ten years, and manage assets of more than 10 billion yuan. In terms of ownership structure, Zhang Yinghao holds 90% of the shares.
Rock Capital was founded in 2012 and has been managing the fund since 2015. It is one of the most influential private equity investment institutions in China. It has an investment team of 70 people. Core members are from large financial institutions, law firms, accounting firms and other professionals, institutions, as well as industry leaders such as Tencent, Procter & Gamble and Proya. As of last year, assets under management exceeded RMB 17 billion. Since 2015, the group has issued a total of 16 funds, and has 12 private equity funds in existence.
It is reported that Lock Capital’s fund-raising targets are mostly high net worth individuals, with a total of more than 40 investment projects, and the average annual return on investment of previous projects is more than 20%.
China (TagstoTranslate) Investments (T) Goldman Sachs (T) Securities