| U.S. private equity firm TPG Capital is set to complete a $1.5 billion first close on its $4 billion-targeted sixth pan-Asian fund as soon as June, according to people familiar with the situation. The new vehicle will follow its $4.25 billion fifth fund, launched in 2008.
TPG's latest deal in China involved working alongside sovereign-wealth fund Government of Singapore Investment Corp., when they jointly bought CNY750 million ($119 million) in convertible bonds in Chinese sportswear maker Li Ning Co., Dow Jones Newswires reported in January. The bonds, if converted, would give TPG a 7.6% stake in Li Ning and would give the Singapore fund a 7.9% stake. TPG also would get two board seats...............................................Full Article: Source
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