China’s Hillhouse raises $10.6b for Asia’s largest private equity fund

Hillhouse Capital founder Zhang Lei. Photographer: Paul Yeung/Bloomberg

Asia-based private equity firm Hillhouse Capital – whose portfolio includes prominent firms like Airbnb, Uber, Meituan, Didi, Tencent, WuXi App – announced that it has closed its fourth vehicle, Hillhouse Fund IV, at a record-breaking $10.6 billion.

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