Tong Fang Capital Management

Tong Fang functions as the Lu family's private investment office, seated alongside the publicly listed Oceanwide Holdings Group. Lu Zhiqiang founded Oceanwide as a property developer in the 1980s and later expanded into financial services. The family office pursues direct investments that may sit outside the listed entity, though the two share personnel and strategic direction.

The office has historically targeted control or significant minority stakes in overseas financial-services and technology assets. The Genworth Financial acquisition attempt and the San Francisco development project demonstrate a willingness to commit billions to U.S.-domiciled targets, though regulatory friction and domestic liquidity pressures have put large offshore bets on hold since 2020.

The office is structured for principal investing rather than limited-partner fund commitments. Publicly documented activity shows direct equity and debt deals, often through Oceanwide's corporate acquisition vehicles rather than blind-pool funds.

Lu Zhiqiang, as founding principal and Oceanwide's controlling shareholder, is the ultimate decision-maker. The office does not disclose a separate CIO, and deal execution has historically flowed through Oceanwide's internal corporate-development and finance teams.

Oceanwide Holdings entered restructuring in 2020 after bond defaults in China. The family office effectively paused new platform acquisitions and shifted focus to asset sales and liability management. The Genworth deal termination removed a major capital call, but the office's current dry-powder position remains undisclosed.