TPG Capital Holds First Close on China Funds

Global private equity fund TPG Capital has secured 4 billion yuan ($635 million) in commitments and has held a first close on its two China investment funds launched in August 2010, writes Reuters. The firm said 90 percent of the money raised came from private investors rather than government-linked entities.

Reuters – Global private equity fund TPG Capital said on Monday that it has secured 4 billion yuan ($635 million) in commitments and has held a first close on its two China investment funds launched in August 2010.

The firm said 90 percent of the money raised came from private investors rather than government-linked entities.

TPG said it planned to raise more than 50 percent of the 10 billion yuan final target for the funds from private investors.