Core Points - The article discusses a significant power struggle within a private equity firm, Jingqi Investment, highlighting the conflict between its founders, Fan Siqi and Tang Jingren, which escalated to public accusations and personal attacks [2][3] - The dispute centers around allegations of financial misconduct, including unauthorized withdrawals and mismanagement of funds, leading to a breakdown of trust and collaboration between the founders [4][5] - The article emphasizes the inherent vulnerabilities of quantitative private equity firms, where trust and interpersonal relationships are crucial for success, and how internal conflicts can jeopardize the firm's stability [6][7] Summary by Sections Background of the Conflict - The conflict began with a public accusation from Fan Siqi against Tang Jingren, claiming financial mismanagement and unauthorized actions [2] - The founders had a history of collaboration and mutual support, but the current situation has irreparably damaged their relationship [3] Nature of the Dispute - The dispute involves serious allegations, including the misuse of company funds and unauthorized decisions regarding fund management [4][5] - Tang Jingren's control over critical company assets, such as the company seal and bank accounts, has raised concerns about the potential for further mismanagement [6] Implications for the Industry - The article highlights the fragility of private equity firms, particularly those relying on trust and personal relationships, and how internal conflicts can lead to rapid deterioration of the firm's operations [7][8] - It suggests that the governance structures within private equity firms need to be reevaluated to prevent similar conflicts in the future, emphasizing the importance of clear roles and responsibilities [12][14]