Date of Decision: September 20, 2024
Service Center: Texas Service Center
Form Type: Form I-140
Case Type: EB-1 Extraordinary Ability
Petitioner Information
Profession: Investment Fund Manager
Field: Securities Investment and Fund Management
Nationality: Chinese
Summary of Decision
Initial Decision: Denied
Appeal Outcome: Withdrawn and remanded for further determination
Evidentiary Criteria Analysis
The petitioner sought to meet at least three of the ten regulatory criteria under 8 C.F.R. § 204.5(h)(3). Upon review, the Administrative Appeals Office (AAO) concluded that the petitioner satisfied three criteria, warranting a remand for further analysis.
Criteria Met:
- Published Material About the Petitioner:
- The petitioner provided copies of articles about his work in major Chinese business magazines and on a leading online news site with over 10 million regular readers, satisfying this criterion.
- Authorship of Scholarly Articles:
- The petitioner submitted evidence of authoring scholarly articles related to securities and investment management.
- Performance in a Leading or Critical Role for Distinguished Organizations:
- Evidence demonstrated the petitioner’s leadership role as a co-founder and general manager of a private equity firm managing funds totaling 1.8 billion yuan ($254.6 million USD).
Key Points from the Decision
Director’s Errors:
- The Director failed to recognize the significance of the petitioner’s published material in major media and the distinguished reputation of the private equity firm, which has received prestigious awards described as the “Oscars of the Chinese public fund industry.”
Published Material Evidence:
- The articles about the petitioner appeared in widely circulated business publications, with supporting data verifying their prominence.
Organizational Reputation:
- The private equity firm co-founded by the petitioner has rapidly grown and earned industry recognition, with competitors reportedly emulating its investment approach.
Remand Instructions:
- The Director must conduct a final merits determination to assess whether the petitioner demonstrates sustained national or international acclaim and is among the small percentage at the very top of the field of securities investment and fund management.
Supporting Documentation
Published Material Evidence: Articles in major Chinese business magazines and a popular online news site.
Authorship Evidence: Scholarly articles on securities research and fund management.
Leadership Evidence: Documentation of the petitioner’s role in managing a $254.6 million USD portfolio, with recognition from prestigious industry awards.
Conclusion
Final Determination: The Director’s decision was withdrawn, and the matter was remanded for further analysis and decision-making.
Reasoning:
The petitioner met three regulatory criteria under 8 C.F.R. § 204.5(h)(3). The Director must now evaluate the totality of the evidence to determine if the petitioner demonstrates extraordinary ability and sustained acclaim in securities investment and fund management.
