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China's Hillhouse Capital raises $10.6 billion in latest round

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China's Hillhouse Capital raises $10.6 billion in latest round

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HONG KONG (Reuters) - Hillhouse Capital, an investor in top Chinese technology firms including Tencent and Baidu, has closed its latest funding round at $10.6 billion (£8.1 billion), it said, making it the region's biggest private equity capital raising.

The new fund, Hillhouse Fund IV, will look for investment opportunities across the healthcare, consumer, technology and services sectors globally, with a focus on Asia, the company said in a statement on Wednesday.

The investment firm, founded in 2005 by Zhang Lei with seed funds from Yale University's endowment, is among several China-focused investment managers that have funds in both U.S. and Chinese currencies.

(Reporting by Kane Wu and Sumeet Chatterjee; Editing by Darren Schuettler)

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