张磊: NYT

choi

Alexandra Stevenson, 耶鲁毕业生张磊：研究能力造就亿万富翁投资人. 纽约时报中文网, Apr 3, 2015
cn.nytimes.com/china/20150403/c03chinahedge/

, which is translated from (BUT, see note (b))

Alexandra Stevenson, A Chinese Billionaire Spinning Research Into Investment Gold; Setting up shop with $20 million to invest from the endowment at Yale. New York Times, Apr 3, 2015

Quote:

"With an $18 billion war chest, he is one of China’s richest investors.

"Starting 10 years ago with $20 million from Yale University’s endowment, Mr Zhang was an early backer of companies like Tencent and JD.com

"One investor said that Hillhouse had returned a yearly average of 39 percent since it was founded in 2005.

"he founded [Hillhouse Club] on Yale’s campus and named after Hillhouse Avenue, where some of his classes were held.

"After his first year at Yale, Mr Zhang took time off to research China’s expanding private sector, knocking on the doors of [China's tech founders]. He returned to the United States after the Internet bubble burst, in 2001. Four years later, with an MBA in hand, he persuaded Yale to give him $20 million to invest in new companies in China.

"One of Mr Zhang’s first bets was on Tencent; he bought the stock in 2005. Back then the company was best known for its QQ messaging service and was worth less than $2 billion. Today, Tencent is an Internet giant worth more than $160 billion.  'Looking back now I think, wow, Tencent was so cheap,' Mr Zhang said. Hillhouse still owns the stock.  Other investments yielded knockout returns. In 2010, Hillhouse invested $255 million in JD.com. Four years later, that stake was worth $3.9 billion at JD.com’s initial public offering. * * * Hillhouse’s buy-and-hold strategy makes it more of a private equity firm than a hedge fund.


Note:
(a) "in an interview at the Hong Kong office of his firm, Hillhouse Capital Group 高瓴资本集团, in one of the city’s tallest skyscrapers, with sweeping views of Victoria Harbor"

瓴. Taipei: 教育部異體字字典, undated
dict.variants.moe.edu.tw/yitib/frb/frb02695.htm
("盛水的瓦器")
(b) The translation missed three long paragraphs in the English original (these three do appear in the www.nytimes.com), which is reproduced below.

"A bespectacled and energetic man with a casual demeanor that belies his great wealth, Mr Zhang has an unusual background. He was born in 1972 in Zhumadian, Henan Province 河南省 驻马店市, at the height of the Cultural Revolution, when China was purging itself of all things even remotely capitalistic. He came of age just as his country was embracing capitalist reforms.

"At 7, Mr Zhang had his first business idea. He rented his comic books to passengers waiting for their trains. Today, that shared-economy concept is the basis for Silicon Valley companies like Uber and Airbnb.

"His other forward-thinking ideas were not always met with enthusiasm. Not long after securing a scholarship to the Yale School of Management in 1999, Mr Zhang started applying for Wall Street jobs. No one asked him back. One interviewer went so far as to question his intellectual capacity when Mr Zhang asked whether there was any point to gas stations.

(c)
(i) BA in Economics from Renmin University, 1994; MBA and MA in international relations from Yale, 2002.  
en.wikipedia.org/wiki/Zhang_Lei_(investor)
(ii) Quotation 5 states, "He returned to the United States after the Internet bubble burst, in 2001. Four years later, with an MBA in hand * * *"

Reading English will give a reader the (wrong) impression that four years after his 2001 return, Zhang got his MBA.  But Chinese reports about him indicated he went to Yale in 1998 and received the double master's degrees in 2002.

(d) 张磊：我为什么捐款给耶鲁大学888万美元？ 腾讯网, Jan 12, 2010.