Nine hedge funds run by former Hillhouse Capital staff or backed by Hillhouse founder Zhang Lei, have been hit hard by China's tech sector stock crash, according to a report by Business Times.
Along the losers are Franchise Capital Management, which has lost two-thirds of its value in the 14 months to April, Brilliance Asset Management’s whose flagship fund lost 27 per cent in the first four months of 2022, while a retail version dropped 47% from a February 2021 peak to 2 Jun. CoreView Capital Management and Snow Lake Capital also saw losses.
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