China-based Tencent Holdings has entered into a joint venture with Asia-focused hedge fund Hillhouse Capital Management to launch new public investment fund.
Under the joint venture, Tencent and Hillhouse Capital will contribute 40% and 60% each of the fund’s capital, according to China Money Network.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
As part of the deal, former investment director of China Southern Fund Management, Qiu Guolu, will become the chairman of fund, while Hillhouse Capital’s founder Zhang Lei will serve as the fund’s general manager.
In March this year, Tencent has agreed to buy a 15% stake in Beijing-based e-commerce firm JD.com for US$214.7 million.
Last year, Tencent and Hillhouse have joined forces with media company MNC Media to tap into the social media market opportunities in Indonesia.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
