Hillhouse Capital Management

Hillhouse Investment is a global alternative investment manager that partners with high-quality businesses for long-term growth. The firm is known for its disciplined and pragmatic investment approach, prioritizing business fundamentals and industry insights to support sustainable companies. They invest globally across various sectors, including healthcare, industrials, energy transition, business services, and consumer opportunities. Hillhouse aims to create alignment with its investments and drive value for all stakeholders.

Founded in June 2005 by Chinese investor Lei Zhang, Hillhouse Investment began with an initial seed capital of US$20 million from the Yale University endowment. Zhang Lei, the firm's Founder and Chairman, established Hillhouse with a belief in long-term fundamental value investing and a focus on building businesses that can stand the test of time. Initially, the firm focused on venture and growth equity investments in Asia, particularly in China, before expanding its mandate to include buyouts and investments outside the region.

Hillhouse has a diverse portfolio with notable early investments in major technology companies like Tencent Holdings Ltd and JD.com, which proved to be highly profitable. Other significant investments include the privatization of footwear company Belle International, the acquisition of warehouse operator Global Logistic Properties, and stakes in companies such as Zoom Video Communications, Airbnb, and Uber. The firm has also invested in various consumer brands like Blue Moon (liquid detergent), Little Freddie (organic baby food), and Gimborn (pet products).

Hillhouse Investment boasts an international team of over 50 investment professionals from more than 18 countries, bringing a wealth of experience and industry knowledge. The firm's global leadership includes Lei Zhang as Founder & Chairman, Michael Yi as Co-Chief Investment Officer, and Tracy Ma as President & Co-Chief Operating Officer. Hillhouse has also developed a "Deep Value Creation" (DVC) team, comprising internal professionals and external advisors, focused on operational improvements, digital transformation, and supply chain optimization within its portfolio companies. This team includes functional experts like former management consultants, tech specialists, and seasoned industry operators, reflecting the firm's hands-on approach to value creation.