Latest news with #Hornung
Reuters
06-03-2025
- Business
- Reuters
Hillhouse Investment looking to invest up to $2 billion annually in Japan
TOKYO, March 6 (Reuters) - Hillhouse Investment is looking to invest $1 billion to $2 billion annually in Japan and roughly double its headcount in the East Asian country, an executive at the firm told Reuters. The asset manager has around $6 billion in dry powder in its $20.5 billion fifth fund series, said Co-Chief Operating Officer Adam Hornung. It also plans to raise a sixth buyout fund, he said. "The Japanese market now has a tremendous number of opportunities that we think are coming around that maybe weren't as available five or 10 years ago," Hornung said. Japan was long seen as a value trap with companies trading at subdued valuations. However, there is a push to improve governance which is encouraging asset sales and take-private transactions. Recent years have seen Japan attract attention from investors including Warren Buffett, who has taken stakes in five trading companies and said in a letter last month that his firm Berkshire Hathaway (BRKa.N), opens new tab will likely increase its exposure. Hillhouse has been investing in Japan since 2009. It has hired 10 people in the country and aims to roughly double that by the end of 2025, Hornung said. The firm will relocate to dedicated office space in Tokyo's Marunouchi business district from shared office space by mid-year. Hires include Tomohiro Kikuta, a former partner at Bain Capital, and Wern-Yuen Tan, a former executive at PepsiCo (PEP.O), opens new tab. Hillhouse was founded by China-born dealmaker Zhang Lei in 2005. It is known for its hedge fund and private equity investment and has also moved into real estate and private credit. The asset manager is focusing on healthcare, business services, consumer businesses and advanced manufacturing. Its investments in Japan including real estate developer Samty Holdings and restaurant software business Dinii. There are seven Japan deals in the pipeline, Hornung said. "There's a lot more ... deal activity; companies are considering different types of transactions," said Hornung.
Yahoo
24-02-2025
- Sport
- Yahoo
Hill-Murray beats Edina in 2OT to claim Class 2A girls hockey state title
Senior Ella Hornung scored the game-winning goal on a deflection in double overtime, securing the Class 2A girls hockey state championship for Hill-Murray in thrilling fashion against powerhouse Edina on Saturday at Xcel Energy Center. Edina had beaten Hill-Murray in last year's state title game for their fifth 2A championship in the last eight years. This time, the Pioneers — who had lost twice to the Hornets during the regular season — got revenge with a 5-4 victory. Just over two minutes into the second overtime period, Hornung deflected a shot from Addy McLay past Edina goalie Reese McConnell, sending Hill-Murray into frenzied celebration. It's the program's first state title since 2015. The Pioneers had forced overtime with a game-tying snipe on the power play from sophomore Elliana Engelhardt with 3:41 left in regulation. Eighth-grade Hill-Murray goalie Piper Tam made 24 saves in the win. Edina's Cate McCoy scored two goals, and St. Thomas-bound senior Whitney Horton put the Hornets up 4-3 with just over a second left in the second period. But Hill-Murray rallied, with Tam shutting out Edina in the third period and first OT. Hill-Murray was the No. 3 seed in the tournament and had advanced with a win over Rosemount in the semifinals. Top-seeded Edina beat Holy Family in the other semi. Earlier on Saturday, Holy Family beat Rosemount 4-2 in the third-place game. Class 1A:
