Hillhouse Taps Investors, Own Cash in Bid to Raise $8 Billion

Hillhouse Investment Management has reached out to investors and plans to use some of its own money to raise $8 billion for its first new funds in five years, according to people familiar with the matter.

The investment manager is seeking to raise $7 billion for an Asia-focused buyout fund and about $1 billion to $1.5 billion for a growth strategy, the people said, asking not to be identified because the matter is private. It is looking to put a total of $1 billion to $2 billion into the pools, the people added.