TPG launches second yuan fund in China's Chongqing

Newswire

SHANGHAI, Aug 24 (Reuters) - TPG [TPG.UL], one of the world's biggest private equity firms, launched on Tuesday its second yuan-denominated fund in China, underscoring its ambition to expand in the world's fastest-growing major economy. TPG said it aims to raise 5 billion yuan ($736 million) in a new fund to be set up in China's western city of Chongqing, a day after the San Francisco-based buyout firm launched a similar fund in Shanghai, China's financial hub along the eastern coast. "I ...

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