Key Takeaways
- • Hillhouse, the investment firm backed initially by Yale University's endowment, is preparing to pitch a new Asia-focused private credit fund to international investors, according to Bloomberg.
- • The fund may reach between $900 million and $1.1 billion, according to one person familiar with the matter; no final target has been set and investor talks are ongoing.
- • Hillhouse has set up a private credit business called Elham Credit Partners to run the strategy, marking an expansion beyond its traditional public and private equity focus.
- • The launch reflects continued growth of private credit as an asset class in Asia.
Summary
Hillhouse, the investment firm that received early backing from Yale University's endowment, is preparing to market a new Asia-focused private credit fund to international investors, according to Bloomberg. The firm has traditionally focused on public and private equity, but has set up a dedicated private credit business called Elham Credit Partners to run the new vehicle, people familiar with the matter said.
Talks with potential investors are ongoing and no final fundraising target has been set. One person familiar with the matter said the fund may reach between $900 million and $1.1 billion, a range that remains preliminary and subject to change as the pitch process progresses. The sources spoke on condition of anonymity because they were discussing private information.
The effort comes as private credit continues to expand across Asia, with managers increasingly seeking to provide non-bank lending to companies in the region. For institutional investors, the offering would represent a new Asia private credit option from a large, established alternative investment manager, though details on strategy, target returns, and fees have not been reported.
Talks with potential investors are ongoing and no final fundraising target has been set. One person familiar with the matter said the fund may reach between $900 million and $1.1 billion, a range that remains preliminary and subject to change as the pitch process progresses. The sources spoke on condition of anonymity because they were discussing private information.
The effort comes as private credit continues to expand across Asia, with managers increasingly seeking to provide non-bank lending to companies in the region. For institutional investors, the offering would represent a new Asia private credit option from a large, established alternative investment manager, though details on strategy, target returns, and fees have not been reported.
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