Hillhouse Capital planning new yuan fund to tap demand for China exposure: sources

Hong Kong

HILLHOUSE Capital Group, an early investor in top Chinese technology firms including Tencent, Baidu and JD.com, plans to raise a new yuan-denominated fund and is currently pitching it to prospective investors, sources familiar with the plans said.

Hillhouse is aiming to raise about eight billion yuan (S$1.6 billion) in the fund, said one of the sources.