Hillhouse Public Unit Reports 33% Decline in Fund Assets in 2024

A Hillhouse Investment unit that focuses on public markets disclosed a 33% year-on-year drop in gross assets in funds that included US clients, as global institutions moved money to separately managed accounts from products that pool contributions from multiple investors.

HHLR Advisors Ltd.’s gross assets in pooled funds that have US money dropped to $18.5 billion from $27.5 billion a year earlier, according to a March 31 filing to the US Securities and Exchange Commission. The latest number represented a 55% plunge from 2023.

A substantial portion of the reduction was due to institutional clients moving money from the ...