Fanatics China will be a 50-50 joint venture with Asian PE fund Hillhouse Capital, based in Shanghai, and a source close to the deal told CNBC the new business is expected to do over $1 billion in revenues. Hillhouse is also a major investor in Chinese sporting goods retailer Topsports, which runs retail stores there for Nike, Adidas, and a number of other western brands. The new JV will leverage Fanatics digital know-how and licenses for U.S. and European pro teams to reach Chinese consumers, also giving the company a foot in the door to considerably expand its business with ... Log in to view full article.