China Development Bank Teams Up with TPG, KKR

China Development Bank Corp. is setting up an overseas investment platform and forming a partnership with private equity firms TPG Capital and Kohlberg Kravis Roberts & Co., Reuters reported over the weekend, citing the official China Daily.

(Reuters) – China Development Bank Corp (CDB) will set up an overseas investment platform in early December and will sign partnership with TPG Capital LP and KKR & Co LP, the official China Daily reported over the weekend, citing CDB’s private equity unit.

CDB is transforming from a policy lender into a commercial bank and has been making private equity investments in Sino-foreign funds partly to aid Chinese companies expand overseas.