Chinese asset manager Hillhouse Capital Management is set to break records in its latest fundraising campaign, according to the Financial Times.
Despite founder Zhang Lei saying that he has eyes for no more than $8bn, some investors believe that the company will manage to attract close to $10 billion, exceeding the current record of $9.3 billion raised by private equity fund KKR last year for a fund devoted to China and the region.
Hillhouse currently has some $30 billion under management, from the $20 million starting capital it received from Yale University during its founding in 2005.
Firms such as Hillhouse, KKR, and Sequoia Capital China are demonstrating the potential of Chinese companies to foreign investors with their multibillion-dollar fundraisings, following in the footsteps of success story SoftBank which currently has $270 billion in its portfolio.