Former Goldman Sachs banker Fred Hu has bought a Hong Kong mansion valued at over $50 million, nearing the city’s record set in February.
Ex-Greater China chairman Fred Hu has purchased a 4,755 square foot home in Hong Kong for HK$428 million ($55.2 million), according to Land Registry records, valuing it around HK$90,000 per square foot.
The three-story mansion features a basement car park, a roof terrace, a lawn and an infinity pool, according to the developer’s brochure.
The transaction was short of the last record set in February by an anonymous mainland Chinese buyer who purchased a 3,378 square foot home for HK$459 million.
Fred Hu
Hu is a high-profiled banker with a 13-year career at Goldman Sachs where he was its chief China economist in addition to his chairman role. He is currently a non-executive board member at UBS Group where is also a member of its governance and nominating committee as well as its risk committee.
of UBS Group's board.
He has also served in various strategic and advisory roles with the mainland government, the Hong Kong government, the Securities and Futures Commission and other institutions.
He has his own business as the founder of Chinese private equity firm Primavera which has $2.9 billion in assets under management, according to Bloomberg data. A fund managed by the firm was spotlighted last year for allegedly selling heavily discounted Ant Group shares to Hu’s siblings.
