Lenovo Holdings vice President Wu transfer to CITIC Industrial Fund

This reporter Yang Yangxiao Beijing reported one months ago in a small range of rumors of Wu resignation news, November 13 was confirmed by Lenovo Holdings.　　"Mr. Wu officially resigned from Lenovo Holdings," the company said in a reply to the newspaper. Wu, who began as vice president of Lenovo Holdings in early 2008, was specially invited to "take the helm" of Lenovo Holding's direct investment business.　　On September 8, just 2 months ago, on the occasion of China's pan-Sea stake in Lenovo, the latter issued a new development strategy: Lenovo's headquarters will launch a direct investment business to build its core assets. "This is a normal personal career choice," Wu told reporters in a telephone interview 13th. "Met, chat with the same," he said, and Liu and Lenovo during the work, the company gave him the trust and support, providing a good career stage.　　This may not be a falsehood, Liu previously in the interview with this reporter, had deliberately mentioned that two of mountains back to Lenovo Group as Chairman of the board before, and Wu "spent a lot of effort to do cohesion", and precisely because of Wu to join, Liu was relieved to put more energy into Lenovo Group. It is understood that Lenovo holding president of the Office to understand and respect Wu personal career options, has accepted Wu resignation, and in the morning of November 13 held a full meeting, Lenovo holding investment business by Liu under the leadership of Lenovo Holdings president of the group management and decision-making. According to close sources, Wu will officially leave next month, December 1 will formally join CITIC Industrial fund. Wu said Citic Industrial Fund is a relatively new platform, is still in the start-up period, he himself has been enthusiastic about this area.　　This, he says, is based on his own career development and has no bearing on Lenovo's development strategy. CITIC Industry fund chairman Liu Le flew to reporters confirmed Wu to join.　　He also told reporters that Citic Industrial fund in December this year to complete the first phase of the fund-raising, the size of the fund-raising will exceed the original estimated 6 billion yuan, because the fund "in the process of raising money has been a positive response of the LP." Liu said that the fund was highly recognized by LP, the main reason is the advantages of the GP management team-the main partners have excellent performance (Track-record). After the Liu this January, one of the main jobs of the group was recruiting.　　According to the introduction, today CITIC Industry fund, gathered in a large number of world-class multinational companies and local large-scale financial enterprises experience the outstanding talent, including from China Life, brokerage department, GE, McKinsey and other background talent. Liu believes that these teams of experienced backgrounds can provide better value-added services to the companies they invest in.　　This will be the most competitive advantage of CITIC Industrial fund. In fact, after the financial crisis, PE in the practice of internal strength, are invariably added to the focus of value-added services. After Carlyle Group founder Rubenstein in an interview with this newspaper also said that PE into a fund changeERA, PE should value value-added services. Prior to that, KKR and Blackstone had already set up renminbi funds at home, and the size of Carlyle's renminbi fund was about to open, and global PE competition in China was intensifying. In this regard, Liu that the real understanding of the local market, local enterprises and the strength to provide value-added services, PE, in fact, not much.　　He believes that the Wu to enhance the investment strength of CITIC Industrial Fund, especially after the investment management ability, will have a great help.　　Liu Le briefed reporters on Citic Industrial Fund's investment focus, including energy and resources, finance, consumption, machinery manufacturing and TMT as the five core investment areas.　　According to the public Information, CITIC Industrial Fund has been a strategic investor in the status of mountain Shaoxing wine industry, Sichuan Santi Lok Village egg industry and million information and other projects. Wu CFP