Hillhouse is the figurehead of homegrown Chinese private equity, although as an institution it is somewhat unusual and owes at least as much to the patient techniques of the Yale Investments Office as it does to mainland entrepreneurial zest.
Hillhouse, under CEO Lei Zhang, is the name everyone’s talking about in Hong Kong and Beijing: its $10.6 billion fundraising, which closed in September, was Asia’s largest-ever private equity capital raise and the deals it is involved in are some of the most interesting and transformational in the region.
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Lei Zhang, Hillhouse Capital |
The underlying trend is not just noteworthy but also a little alarming.
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