China Life Injects $250M In TPG Capital

Beijing-based China Life Insurance Co. Ltd. has completed an acquisition of a minority stake of between 2% to 5% in U.S. private equity giant TPG Capital for US$250 million, according to a person with direct knowledge of the matter.

The investment comes as TPG is reportedly preparing to raise a US$10 billion new global buyout fund.

In July, TPG acquired an undisclosed stake in Hong Kong-based hedge fund seeding firm HS Group Ltd. and entered into the Asian hedge fund space.

In May, TPG closed its sixth pan-Asian fund at US$3.3 billion, a reduction from its original fundraising target of US$3.5 billion due to challenging fundraising environment.

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