Aug 26, 2021 08:08 PM

Private Equity Giant Hillhouse Launches New Fund Business to Invest in Stock Market

What’s new: Chinese private equity (PE) heavyweight Hillhouse Capital Group has set up a new private fund business to invest in the stock market.

The entity, called Shanghai Lingren Private Fund Management Partnership (LP), on Friday completed its registration (link in Chinese) with the Asset Management Association of China, a self-regulatory industry group.

With 10 million yuan ($1.6 million) of registered capital, it can manage up to 500 million yuan in privately offered funds that can invest in listed companies’ stocks and publicly traded bonds.

The actual controller of the partnership is Xu Yulian, who is also actual controller of Tianjin Liren Investment Management Partnership (LP), another private fund business set up by Hillhouse in February 2018.

Xu previously worked at China International Capital Corp. Ltd. (601995.SH), China’s first Sino-foreign joint venture investment bank, and accounting giant KPMG LLP.

The background: The move shows the PE giant is doubling down on its investments in Chinese stocks.

Along with China’s efforts to liberalize capital markets and restructure IPO systems, the PE and venture capital sector has boomed in the last two decades. Many players initially focused on the primary market, and are now tapping into the secondary market.

Related: Private Equity Giant Hillhouse Sets Up 10 Billion Yuan Venture Fund

Quick Takes are condensed versions of China-related stories for fast news you can use. To read the full story in Chinese, click here.

Contact reporter Tang Ziyi (

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