TPG Strikes Deal With Chinese Bank

May 23 2011 | 2:44pm ET

A Chinese government-owned bank has agreed to take a stake in private equity giant TPG Capital.

China Development Bank Capital Co. signed the deal in Beijing today, with TPG co-founder Jim Coulter in attendance at the ceremony. Meanwhile, the bank has asked for regulatory approval to take the minority stake.

TPG has been taking on state-owned firms as minority investors in recent months, selling stakes to the Government of Singapore Investment Corp. and Kuwait Investment Authority.

Terms of the TPG-CDB deal are unclear; the Singapore and Kuwaiti sovereign wealth funds bought nearly 5% of the firm.


In Depth

bfinance: Fees Falling Across Asset Classes, Yet Overall Investor Costs Still Climbing

May 16 2017 | 9:53pm ET

Despite unprecedented attention on fees, new research from investment consultancy...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Risk-Based Compliance: Why Oversight Of Outsourcing Is Critical

May 10 2017 | 7:02pm ET

Compliance is notoriously one of the trickiest middle office functions for funds...

 

From the current issue of