Top tick? China Life about to take stake in TPG

|By:, SA News Editor

The deal which could be disclosed in coming days calls for China Life to pay $250M for an ownership stake of between 2% and 5% in P-E firm TPG, reports the FT. The sale would be the latest in TPG's efforts to raise so-called permanent capital from investors as it decides whether or not to pursue an IPO.

It would also be the first Chinese investment in the P-E industry since CIC got smoked (at least initially) taking a $3B stake in Blackstone at the top in 2007.

The move is consistent with China Life strategy to diversify its investments into overseas markets, says analyst Chen Xingyu.