Success for TPG's 1st yuan fund
By Ding Yining |
February 7, 2012, Tuesday
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Print Edition
Print Edition
TPG Capital said yesterday it has completed raising 4 billion yuan (US$635 million) for its first yuan-denominated private equity fund as it joined other private equity firms to tap the growth of domestic companies.
Private equity firms such as Blackstone, IDG Capital and Carlyle Group have also launched yuan-denominated PE funds in China which is introducing more channels of capital to finance the growth of domestic enterprises.
The new Shanghai TPG I Equity Investment Partnership Enterprise Fund will be invested in domestic companies.
"Although the global financial crisis has made fundraising rather difficult, a low valuation of the domestic stock market signals it is probably now a good chance to start investing," said Sing Wang, a partner of TPG and co-chairman of TPG China.
Private equity firms such as Blackstone, IDG Capital and Carlyle Group have also launched yuan-denominated PE funds in China which is introducing more channels of capital to finance the growth of domestic enterprises.
The new Shanghai TPG I Equity Investment Partnership Enterprise Fund will be invested in domestic companies.
"Although the global financial crisis has made fundraising rather difficult, a low valuation of the domestic stock market signals it is probably now a good chance to start investing," said Sing Wang, a partner of TPG and co-chairman of TPG China.
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