Illustration: Kevin February
When Hillhouse Capital closed a new private fund at $10.6 billion in October, achieving Asia’s biggest-ever private equity capital raising, it marked another step in the ascent of the region’s most talked-about investment manager.
Home-grown Chinese private equity is one of the great trends of the day: Hopu, CDH, Ping An Voyager and others all represent part of the story, but Hillhouse is the one that has made the most waves.
It has done so quietly, however.
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