Hong Kong-based Hillhouse to bid for Thyssenkrupp's elevator unit

Hong Kong-based Hillhouse to bid for Thyssenkrupp's elevator unit

The Thyssenkrupp AG logo sits illuminated at the entrance to the company's steel plant in Duisburg, Germany, on Wednesday, Dec. 20, 2017. Photographer: Krisztian Bocsi/Bloomberg

Hillhouse Capital, the Asian private equity firm started by Yale endowment alumnus Zhang Lei, is among bidders for Thyssenkrupp AG’s elevator unit as competition heats up for the prized asset, people familiar with the matter said.