TPG Leads $465 Million Fund to Piggyback on the Next Shein
- Hidden Hill builds logistics network as China tech goes global
- Fund is seeded with investments in J&T Express, JD Logistics
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Hidden Hill Capital, a private equity firm backed by GLP Pte., has raised $465 million for a fund targeting the infrastructure for a generation of Chinese companies like Shein that are turning outward for growth.
The Hidden Hill Foundation Fund has started out with shares in six companies including J&T Express Co. and JD.com Inc. unit JD Logistics Inc., which its operator previously invested in. NewQuest Capital Partners, owned by the alternative asset manager TPG Inc., is the fund’s lead investor alongside backers from North America, Asia and Europe, Hidden Hill said in a statement Friday.