TPG plans $1.5 billion of investments in China

The private-equity firm signs agreements with the governments in Shanghai and Chongqing to set up two renminbi-denominated funds of Rmb5 billion each to invest in Chinese companies.

Private-equity firm TPG has made a major move into China this week with agreements to set up two separate renminbi-denominated funds that will seek to invest a combined Rmb10 billion $1.5 billion in Chinese growth companies. The funds, which will each have a targeted size of Rmb5 billion, will be established with the support of the municipal governments in Shanghai and Chongqing and the fundraising will start in the next couple of months.

TPG is not the first foreign private-equity...

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