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Asia Venture Capital

Hillhouse Raises Record-Breaking $10.6 Billion Private Equity Fund

Hillhouse Capital, the Chinese investment firm that has been a backer of some of China’s most successful tech firms, has raised $10.6 billion, the largest ever for a private equity fund based in Asia, the Wall Street Journal said.

Seeded by the Yale endowment where Hillhouse founder Zhang Lei once worked, Hillhouse has moved beyond tech into everything from shoes, animal hospitals and even fast food, as when it made an offer to buy the firm operating KFC and Pizza Hut in China.

Hillhouse has also increasingly played an active role in managing some of the companies that it has bought, even developing its own enterprise software management systems in-house.


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