A senior managing director at Fosun Group, Patrick Zhong leads the global investments and strategies group of the largest privately held conglomerate in China. Zhong is responsible for the conglomerate’s wide-ranging investments and partnerships with international brands.
Fosun has invested in Folli Follie Group and US knitwear company St John Knits, as well as, more recently, Italian menswear manufacturer and brand Caruso. Having tried on one of Caruso’s suits Zhong was inspired to invest in the brand, with “a view of leveraging its competitive manufacturing edge into an authentic Italian lifestyle brand for the global market.”
In his capacity as president of Pramerica-Fosun China Opportunity Fund, which invests in global opportunities relevant to Chinese consumer’s expenditure, Zhong reports directly to the four founders of Fosun and its board. Zhong told Italian Vogue: “Now that the financial means have increased, changing from the 700 American dollars per capita of ten years ago to the 5,700 today, everyone is trying to improve their quality of life, and fashion is the best way to do it.”
The businessman went on to say, “We’d like to collaborate with the best Italian companies, help them grow here, because this is the world’s scene, a market where everything is possible, even though not always easy. Those not taking part in this battle are not winning it, they won’t be tomorrow’s conquerors.” Zhong himself sits on the board of Fosun-Carlyle Equity Investment Fund and is the chairman of Forbes China and Fosun Media.
Prior to joining Fosun Group, Zhong worked as a generalist investor at Wellington Management, one of the largest investment management firms in the world, gaining experience in a variety of markets including the US, Greater China, Europe, Japan and other Asian economies. In addition Zhong worked at RHJ Associates and Wasatch Advisors as a senior investment professional as well as a fund manager.