Early Life and Education
Zhang Lei was born in 1972 in Zhumadian, Henan province, China. He excelled academically, earning a scholarship to Renmin University of China, where he received a bachelor's degree in economics in 1994. His pursuit of higher education led him to Yale University, where he obtained an MBA and a Master of Arts in International Relations in 2002. During his time at Yale, he interned at the Yale Investments Office, an experience that significantly influenced his investment philosophy.
Rise to Success
Lei founded Hillhouse Investment in 2005, with an initial investment of $20 million from Yale University's endowment fund. The firm, named after Hillhouse Avenue in New Haven, Connecticut, where Yale's endowment office is located, has grown to become a leading private equity firm in Asia. Hillhouse focuses on long-term, research-driven investments across various sectors, including technology, healthcare, and consumer goods. The firm's early investments in companies like Tencent and JD.com proved highly successful, solidifying Lei's reputation as a visionary investor.
Key Business Strategies
Zhang's investment strategy emphasizes fundamental research and long-term partnerships. He focuses on identifying companies with significant growth potential and works closely with management teams to enhance operational efficiency and strategic direction. Hillhouse's success is attributed to its deep industry insights, rigorous due diligence, and commitment to sustainable value creation. Lei's investment philosophy, largely shaped by his mentor David Swensen, emphasizes creating sustainable long-term value.
Philanthropy
Lei is also actively involved in philanthropy, particularly in education. In 2014, he donated $8.88 million to the Yale School of Management. He has also supported Renmin University of China, establishing the Gaoli Academy and providing financial support for its development. He is involved with the BN Vocational School (BNVS) in China and funded a low-budget docudrama called Kang Rinpoche (Paths of the Soul) in 2017.
