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CreditEase-Linked Funds Manage Over 17 Billion Yuan via Three Entities
TMTPOST — Three private-equity managers linked to CreditEase oversee a combined scale of at least 17 billion yuan, according to filings with the Asset Management Association of China and related data. The entities—Beijing Yuying Asset Management, Beijing Hanfu Asset Management and Shenzhen Puze Zhongfu Asset Management—have operated since 2013 as the group’s primary vehicles for primary-market investments. Based on registered capital of unliquidated funds, the total exceeds 26 billion yuan. Data from Zhizhong Zerone show the three have invested as limited partners in more than 180 sub-funds, partnering with general partners that include IDG Capital, Qiming Venture Partners, Lilly Asia Ventures and Matrix Partners China. Equity penetration indicates the ultimate limited partners are predominantly individual investors, and the managers are controlled by Tang Ning and Zhao Mei. Following the criminal investigation into CreditEase-related companies and coercive measures against the couple, the path for liquidating these funds remains unclear.
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