Hillhouse Investment Management, Ltd.
Hillhouse builds businesses that stand the test of time
- PE fund assets
- $59B
- PE funds
- 18
8 additional team members, 20 additional funds, deals and LP commitments
Every relationship, signal and contact on this record, with the source on each.
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Nothing material in the last 180 days. Last change: Mar 31, 2026, Private equity funds on its Form ADV went from 17 to 18 (+1).
People to know
View all 9 people- Co-Chief Investment OfficerWhy: Chief investment officer: owns the allocation decisionNo route on file yet
- Co-President, DirectorWhy: Runs the firm (chief executive or president)No route on file yet
Capital path
who backs this record, through what, into what; each name opens its own path- Hillhouse Venture Fund VI, L.P.vintage 2023
- Hillhouse Real Asset Opportunities Fund, L.P.vintage 2022
- Nobel Fund I, L.P.vintage 2022
Relationship network
32 connected entities
From announced deals and their parties, Form ADV and Form D filings, the firm's funds and team, and disclosed LP commitments in the private equity graph. Dollar figures appear only where a source disclosed one.
Some relationships on this record are counted rather than named here. They open with the full profile.
Click any name or line for the deals and sources behind it. Line weight is deals together; dashed lines are inferred.
- Fund or vehicle
- Person
›How strength and recency are read
Strength is read from the deals: three or more is a strong observed relationship, two a repeat counterparty, one a single interaction. People and vehicles are structural. Nothing is scored that a reader cannot check.
Darker lines were active in the last 24 months or are current; lighter lines are older or undated.
Who can introduce you
From your own network, read by Network Intelligence. Only you see this; nothing here is shared with anyone else.
Sign in and add your LinkedIn connections to Network Intelligence to see who in your network can introduce you to Hillhouse Investment Management, Ltd.. How it works
Classification, Form ADV and stated criteria
Classification, Form ADV and stated criteria
How this organization is classified, and on what basisBuyout firm · 2 in historyShowHide
- Class
- Buyout firmconfirmed, confidence 85%
- Basis
- 22 of 25 distinct vehicles are sworn Private Equity Funds; 20 reported gross assets on a filing in 2022 or later
- Size band
- Large capdefined by: proxy: $58.97bn Private Equity Fund GAV on the Form ADV filed 2026-03-31
- Strategies
- Growth equity
Classification history (2)
- Sep 23, 2026Buyout firm (confirmed, 85%)22 of 25 distinct vehicles are sworn Private Equity Funds; 20 reported gross assets on a filing in 2022 or later
- Sep 13, 2026Buyout firm (confirmed, 85%)21 of 24 distinct vehicles are sworn Private Equity Funds; 19 reported gross assets on a filing in 2022 or later
Regulatory footprint (Form ADV)18 PE funds · filed Mar 31, 2026ShowHide
- Adviser type
- Exempt reporting adviser
- Form ADV filings
- Mar 21, 2012 to Mar 31, 2026
- RAUM
- unknownregulatory assets under management of the adviser; not dry powder, not a fund size
- PE funds, latest filing
- 18
- PE fund GAV, latest filing
- $59Breported gross assets (Form ADV), not fund size
- All private fund GAV
- $59Bevery private fund type, latest filing
- 2024 PE fund GAV
- $59Bsum over funds typed Private Equity Fund with a 2024 or later as-of date
- PE share of funds, lifetime
- 88%
- Fund type mix
- Private equity fund: 18 funds, $59B reported gross assets, 22 ever reported
- Hedge fund: 2 ever reported
- Other private fund: 1 ever reported
- Employees
- unknown
- Headquarters
- Singapore, Singapore
Stated criteria beside observed behaviour1 of 8 criteria stated · no observed deals yetShowHide
- Sectors
- not stated or not yet read
- Geography
- not stated or not yet read
- Revenue
- not stated or not yet read
- EBITDA
- not stated or not yet read
- Enterprise value
- not stated or not yet read
- Equity check
- not stated or not yet read
- Control
- not stated or not yet read
- Thesis
- We seek to identify emerging trends and support companies who understand the changing needs of people, businesses, and our world.
Nothing observed yet. Behaviour is computed from transactions and portfolio relationships, which have not been collected for this firm.
Funds
How vehicles are groupedFeeders, parallels, executive funds, alternative investment vehicles and lettered sleeves are folded under the fund they belong to, read from the vehicle names. Deal-by-deal co-investment vehicles are pooled. Current funds come first: families are ordered by vintage, newest first, among those holding at least a twentieth of the largest family’s assets, then by size. The figure is the sum of each vehicle’s latest reported gross assets on Form ADV, not a fund size.Hillhouse Venture Fund VI · 1 vehicle · vintage 2023$1.9B
- Hillhouse Venture Fund VI Buyout or unlabelled · 2023$1.9B
Hillhouse Real Asset Opportunities Fund · 1 vehicle · vintage 2022$2.3B
- Hillhouse Real Asset Opportunities Fund Buyout or unlabelled · 2022$2.3B
Nobel Fund I · 1 vehicle · vintage 2022$1.2B
- Nobel Fund I Buyout or unlabelled · 2022$1.2B
People
Where the people come fromEach row names its source in short; hover the source for its full description. Sources on this list: SEC Form ADV filing data 2011 to 2024 (Schedule D 7.B.(1) private funds, Schedules A/B, 1.I websites). A person named by two sources under two spellings is shown once, with both sources.- Qingqing Yi · Co-Chief Investment OfficerWhy this person: Chief investment officer: owns the allocation decision; Named with investment responsibility
- Cuifang (tracy) Ma · Co-President, DirectorWhy this person: Runs the firm (chief executive or president); Named with investment responsibility
Who else at this firm · 1 person, grouped by function
Ranked by the role the firm or its filing states, a route on file and deals led. Every reason is read from the record, never inferred. Routes are published by the person or the firm (their bio, the team page or a filing) and are revealed on a plan; data bought from a provider is never shown, and a route printed at a firm the person has since left is held back.
Deals
How deals are mergedOne row per deal. A portfolio relationship and a transaction that describe the same deal (the same transaction, or the same company on the same date) are printed once, with the columns of both. 0 portfolio relationships and 0 transactions are on this record.Placement agents, lenders, advisers and co-investors
LP commitments
How LPs are totalledOne line per LP, largest disclosed total first. A commitment that the same LP reports again in a later document is counted once in its total; both documents stay in the full list. Rows repeated line for line from one document are shown once.Events
Hillhouse Investment Management, Ltd. is the same institution as 2 records in Allocators and RIA and Wealth.
DFX found 2 relationships across 2 datasets
Which record it is in each graph, what it is called there, and how the two were matched.
7 days of DFX Intelligence free, then $199/month unless canceled. A card is taken when the trial starts.
Checking your plan…
Connected records
Funds
- Hillhouse Venture Fund VI, L.P. (vintage 2023)
- Hillhouse Real Asset Opportunities Fund, L.P. (vintage 2022)
- Nobel Fund I, L.P. (vintage 2022)
20 more on this record
Hillhouse Investment Management, Ltd. sits on 10 traced paths of capital across the graphs.
DFX traced 10 paths of capital through this record
Every record on each path, what it committed or lent, and as of when.
7 days of DFX Intelligence free, then $199/month unless canceled. A card is taken when the trial starts.
Derived from allocator disclosures, BDC schedules and SEC filings; confidence is the weakest hop.
Checking your plan…
Record history
- PE fund count changed2026-03-31source on record
- Adviser first ADV filing2012-03-21source on record
The ledger records every merge, rename and reclassification this record went through and the dated filings observed on it, so the identity on this page can be traced to the records it was built from. The ledger's own sentences name other records, so they show with the names.
Not yet on record: regulatory AUM, companies held now, deals, last 12 months.