Hillhouse secures $10.6b of dry powder for Asia dealmaking

The private equity fund led by Chinese dealmaker Lei Zhang closes Fund IV and stresses opportunities in giving traditional businesses a digital makeover.

Hillhouse secures $10.6b of dry powder for Asia dealmaking

China-focused private equity giant Hillhouse Capital has closed its Fund IV at $10.6 billion as it seeks to harness its digital expertise in transforming traditional businesses.

Announcing the fundraising on Wednesday, Hillhouse said its dealmaking would focus on the healthcare, consumer, technology and services sectors globally, with a particular emphasis on Asia.

Hillhouse believes its technological savvy will allow it to restore growth to staid businesses pointing to the success of Belle...

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