Hillhouse Investment is a global private equity firm with an East Asian heritage.

[1] In October 2021, Hillhouse raised US$18 billion for its fifth flagship private equity fund, breaking the previous record set by KKR's US$15 billion pan-Asia private equity fund raised that same year.

[10] Lei Zhang founded Hillhouse Investment in June 2005 with an initial US$20 million of seed capital from the Yale University endowment through David Swensen, Yale's Chief Investment Officer at the time.

[16] Hillhouse's rapid growth stemmed from its investing track record, with up to 52% annualized returns from inception until 2012[8][17][18] and continued strong performance as the firm scaled.

Hillhouse's original $255 million investment was, at the time of the IPO, valued at $3.9 billion.

[32] Hillhouse established an exclusive joint venture focused on China with the US healthcare provider, Mayo Clinic.

Hillhouse works with the Mayo organization to expand its healthcare outreach in China.

[11] According to the Financial Times, Hillhouse will often bring together leaders of their portfolio companies to share insights, believing that it is beneficial for executives to learn from one another.

"[35][36] According to the Wall Street Journal, Stanford University pledged to invest about US$200 million with Hillhouse in August 2015.