Hillhouse Capital raises $10.6bn

Fund IV is reported to be the Asia’s largest private equity fund ever.

Hillhouse Capital has corralled $10.6 billion for Hillhouse Fund IV. The oversubscribed fund is by far the largest private equity fund in the region, surpassing KKR’s $9.3 billion Asian Fund III.

Following its predecessors, the fund targets to support and facilitate the transformation of traditional businesses in TMT, consumer goods and healthcare sectors across Asia.

Founded in 2005, the Beijing and Hong Kong-based firm currently manages over $50 billion in assets.