Hillhouse Capital Management (Hillhouse) recently increased their stake in HK-listed China Resources Beer (Holdings) Company Limited (China Resources Beer). According to a filing submitted to the Hong Kong Stock Exchange on August 14th, 2017, Hillhouse bought 5,162,000 shares on the exchange at an average price of HKD 19.4317 per share on August 9th (the total consideration was ~US$12.8m). Following the purchase, their stake in China Resources Beer increased from 4.89% to 5.05% of the company’s shares outstanding.
China Resources Beer focuses on the manufacturing, sales and distribution of beer products. It is a listed subsidiary of China Resources (Holdings) Company Limited. The company has been in the beer business in China since 1994. It has been the market leader in China in terms of total sales volume since 2006. Since 2008, the company’s flagship brand “雪花 Snow” has also become the largest single beer brand worldwide by volume.
Hillhouse is a leading investment management firm. They invest with a long-term time horizon and employ a fundamental, bottom-up approach. They focus on the consumer, TMT, industrials and healthcare sectors and invest in companies across all equity stages. The firm was founded by Lei Zhang in 2005 with backing from the Yale Endowment.