With two RMB fund launches, TPG has joined private equity firms like Carlyle and Blackstone in throwing itself wholeheartedly behind an untested and pioneering investment vehicle. Will real estate follow suit?
Offshore LPs invested with China-based private equity managers are concerned at the conflict of interest between USD-denominated vehicles and their RMB-denominated counterparts. But what can be done? Jenny Blinch reports.
The Singaporean sovereign wealth fund registered a portfolio value of S$186bn at 31 March 2010. Asia, and other growth markets including Latin America, remains its key investment focus for the next ten years.
Ping An Insurance has received regulatory approval to purchase TPG’s 17% stake in Shenzhen Development Bank. The acquisition will be paid in Ping An shares and looks set to make TPG at least an 8x return on its initial investment.