Firm which backs Tencent, Baidu, Airbnb raises $10.6 billion

Hillhouse Capital, a Chinese investment company which backs firms like Tencent, Baidu, and Airbnb has raised $10.6 billion for a new fund, making it Asia's biggest private equity capital raising. The fund plans to invest in healthcare, consumer, technology, and services sectors. The new funding surpassed KKR & Co which raised $9.3 billion in the biggest fundraiser of 2017.