Korean Conglomerate SK Group Formed Chinese Joint Investment Fund with Hillhouse Capital Group
Posted on 12/03/2019
SK Group is the third largest conglomerate in South Korea. The Korean conglomerate formed a 1 trillion KRW fund with China private equity firm Hillhouse Capital Group. The joint investment fund will target Chinese startups. SK Group, through its China unit – SK China, is contributing 100 million KRW to the joint fund, while Hillhouse is reportedly putting in 900 million KRW. The 900 million KRW investment into the joint fund cannot be officially confirmed, according to SWFI research.
SK Group is keen on getting a larger footprint within mainland China.
Hillhouse Capital is an investor in Chinese firms such as Baidu Inc. and Tencent Holdings Limited.