TPG Will Halve China Investments in New $5 Billion Asia Fund
- Asia VIII fund to invest more in India, SE Asia, Australia
- China investments have weighed on firm’s Asia VII fund return
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TPG Inc. will soon close its eighth Asia buyout fund at around $5 billion, with the new portfolio set to slash its China allocation by more than half from prior regional funds, according to a person familiar with the matter.
The investment firm plans to put about 10% of its Asia VIII pool in China, down from around 25% of invested capital in previous funds, according to the person, who asked not to be identified because the information isn’t public. TPG will allocate more than 80% in Australia, India and Southeast Asia — up from 70% in the predecessor fund, the person said. The rest will go to South Korea.