Hillhouse completed the acquisition of a majority stake in AI Dream from Advent International.

Hillhouse, a global Asia-focused private equity firm, completed the acquisition of a majority stake in AI Dream, a branded sleep solution provider, from Advent International, a private equity firm. Financial terms were not disclosed. “After becoming an integrated business through the combination of Serta and King Koil, which themselves enjoy a strong presence in over 100 countries, AI Dream has continued to go from strength to strength and is now one of the largest players in China’s premium mattress market. We have found an ideal partner in Hillhouse who has the expertise and track record to create lasting value and support to AI Dream in its next phase of growth," Andrew Li, Advent Managing Director and Head of Greater China.