The Hong Kong-based firm provided crucial financing to ByteDance and the Ant Group and even acquired Princeton Review, the New York-based college test prep firm.
Fred Hu, founder of Primavera Capital. Credit: ChinaImages via Depositphotos
In 2021, as Chinese regulators aggressively reshaped the landscape for the country’s leading technology companies, a sense of apprehension gripped chief executives. Yet, amidst the uncertainty, one CEO stood out for his unwavering confidence in the country’s ability to adapt: the head of Primavera Capital, Fred Hu. Dismissing concerns, Hu confidently asserted that the government’s quest for “common prosperity” was laudable and need not signal a weakening commitment to a robust private
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