On May 21, 2018, Adobe Systems bought California-based e-commerce software company Magento for $1.68 billion. The announcement came 18 months after Hillhouse invested in the company, taking a significant stake.
Mobike, the bike sharing app that has transformed China’s landscape, was acquired by Meituan Dianping for $2.7B on April 4, 2018. Hillhouse was an early investor in Mobike. The company known for its ubiquitous dockless orange bicycles that are powered by GPS and an easy to use app had made short commutes in China vastly easier in the two-plus years since it launched in early 2015.
Global Logistics Properties (GLP) announced on July 14, 2017 that it would be taken private for $11.6 billion in the biggest privatization ever in Asia. The consortium of buyers for the Singaporean-based company was led by Hillhouse.
On April 28, 2017, footwear and apparel retailer Belle International announced a privatization offer for $6.8 billion by a group of buyers led by Hillhouse. Belle, which distributes some of the biggest names in international sportswear, including Nike, Adidas and Puma, as well as several highly popular Chinese brands that it makes itself, said that the move was a way to increase its competitiveness in the online space.