Limited Partner China

Missed this one last week. China is at it again. Chinese government agency, State Administration of Foreign Exchange (Safe), is putting $2.5 billion into TPG’s new fund, says the FT. This becomes the third flank opened by China in recent times to edge into the private equity business.

Last year, the government-backed sovereign wealth fund, China Investment Corporation (CIC), bought a 10 per cent stake in Blackstone for $3 billion, just ahead of its initial public offering. Post-Blackstone, CIC has been busy actioning new investment plans — see the Reuters report. Meanwhile, domestic pension fund National Council for Social Security Fund has turned limited partner for domestic buyout funds such as CDH Capital and Hony Capital — Bloomberg report here.

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