In today’s newspaper edition of the paper, Milano based Gazzetta dello Sport supports reports that LionRock Capital, an investment firm based in Hong Kong, is set to take over Erick Thohir’s stake and become Suning’s new partner at Inter.
Daniel Kar Keung Tseung is the head of the investment firm which will buyout the Indonesian’s 31.05% stake. Tseung studied in the United States at Princeton and Havard. He’s now 47 years old and has had a glamorous career with some of the largest companies in the world, both in America and China, as well as investments dating back to the 90’s.
He’s worked on the boards of many top companies, such as, the Chinese Starbucks division, Gourmet Master, a building material supplier in Ohio, Owens Corning, and also the Chinacast Education Corporation, which trains Beijing’s state executives.
His work in Beijing offers added comfort because not only does his work in the United States display a great amount of experience and contacts but this proves he has a good relationship with the Chinese government as well, which is a necessity when doing business outside of China.
There aren’t any reports outside of China regarding the tycoons personal life, all that is known is that he is a protestant Christian, he is married and has two daughters, one in elementary school and one a bit younger. He enjoys tennis and admires Jeremy Lin, an NBA player of Asian descent who had a few seasons of stardom.
More importantly, the Gazzetta highlights how when he invests into a company, he likes to help as much as possible to help it grow rather than waiting for it to do so naturally and then cash in. A key factor for Inter fans.
LionRock itself was founded in 2011, now with 27 employees and recorded profits of $5.4 million in 2018, according to financial analysts estimates. Karen Lai is the director of investments.
The firm may be based in Hong Kong but it also has a sister company registered in the Cayman Islands. In terms of current investments, in Europe, the company has a stake in Hailo, the company that owns MyTaxi app in Italy and in sports, the firm is already in partnership with Suning as an investor in Suning’s Sports.
Inter is the first football club in its portfolio. Once the deal with Thohir is closed, there will be room for Tseung and one more of his employees on the board of Inter where plans for the future will be discussed and supported by the Hong Kong firm.