Hillhouse Investment
Übersicht
Hillhouse Capital Group (“Hillhouse”) is an investment management firm founded by Lei Zhang (link to Lei’s page) in 2005 with US$20mn in seed capital from the Yale Endowment. Hillhouse manages approximately US$19bn of assets as of Dec 2014.
Hillhouse manages capital for institutional clients such as university endowments, foundations, sovereign wealth funds, pensions and family offices.
Hillhouse is a long-term fundamental equity investor. It invests globally, with a particular focus on China and Asia. Independent, fundamental and proprietary research is key to Hillhouse’s investment process. Hillhouse focuses on the consumer, TMT, industrials and healthcare sectors.
Hillhouse invests in companies across all equity stages.
Investments
Hillhouse reported investments include:
Tencent – Hillhouse put much of the money initially raised from Yale into Tencent. It was Hillhouse’s earliest investment and among the most profitable ones. Even now, Hillhouse retains a stake in Tencent, which is listed in Hong Kong. [1]
JD - The listing of JD in NASDAQ in May 2014 valued it at $26bn. Hillhouse’s original $255m investment was valued at $3.9bn at IPO. Zhang was a behind the scene catalyst of the co-operation between JD and Tencent. [1]
Blue Moon – Hillhouse invested in Blue Moon in 2010 as its only outside institutional investor. In 2013, Blue Moon was ranked #1 in China Brand Power Index published by Ministry of Industry and Information Technology. The market share of its liquid detergent is ranked #1 in China for the past five consecutive years. [2] [3]
Qunar – In March 2013, Hillhouse invested US$37mn in Qunar.com which represented a 4.64% stake of the Company before listing. Qunar was priced at US$15 per share at its NASDAQ IPO in November 2013. Hillhouse’s stake was valued at US$211mn at its IPO. (Reference: Qunar F1 filing)
See also
Zhang Lei has Lunch with the FT
Hillhouse’s Zhang Says Now One of Best Times to Invest in China