On May 23, 2011, Bloomberg News reported that China Development Bank Corp. had agreed to acquire a stake in U.S.-based buyout firm TPG Capital.
On May 23, 2011, Bloomberg News reported that China Development Bank Corp.’s investment unit has agreed to purchase a stake in U.S.-based buyout firm TPG Capital. Neither party has confirmed this report. China Development Bank has approximately $770 billion of assets and focuses on private equity, direct corporate investment and advisory services. TPG manages approximately $48 billion, and this follows from the separate announcement in April that TPG had sold a minority stake to the Singapore and Kuwait governments (see our post of 4/6/11).
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