Hillhouse Capital sets up $600m dedicated carbon-neutral fund

Source: Karsten Würth/Unsplash

Hillhouse Capital Group has hit the first close of its carbon-neutral fund as the Asia-focused private equity (PE) giant jumped on the bandwagon of setting up a dedicated vehicle to back the world’s net-zero emission goal estimated to cost $1-2 trillion of additional investments per year.

Hillhouse, which targets a total fund size of over 4 billion yuan (almost $600 million), reached the first closing with capital commitments from many existing limited partners (LPs), according to a recent announcement by Beijing Private Equity Association (BPEA), which counts Hillhouse as a member.

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