Pursuits
TPG, GIC Invest in Delta Dunia, Bet on Indonesian Coal Industry
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TPG Capital and Government of Singapore Investment Corp. have invested in PT Delta Dunia Makmur, which owns Indonesia’s second-biggest coal mining contractor, as they bet on growth for the resources industry.
David Bonderman’s TPG and GIC, which manages Singapore’s reserves, bought non-voting shares in Northstar Tambang Persada Ltd., an investment vehicle which owns 40 percent of Delta Dunia, according to a letter filed to the Indonesian stock exchange today.