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 International, the Chinese shoe retailer it took private in a $6.8 billion deal last year. Belle International has been performing ahead of management expectations since the privatisation, a person familiar with the matter told...
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