Hillhouse Investment has launched a fundraising drive for a new $7bn private equity fund, according to a report by Reuters citing people familiar with the matter. The firm, founded in 2005 by Zhang Lei, is expanding its global footprint with teams in London, Singapore and Tokyo.
The latest raise follows its record $18bn fund in 2021, which at the time was the largest ever set up for an Asia-based manager. In March, the firm’s co-COO told Reuters that it was looking to double its investment and headcount in Japan.
Data from Dealogic reportedly shows that M&A by private equity firms of Asian targets has reached $130bn so far this year, already surpassing last year’s total. Recent fundraises in the region include Blackstone raising over $10bn for its third Asia fund, and KKR targeting a $15bn fifth Asia fund.
