The state-owned insurer will take a stake in the firm, which runs two venture capital units, sized at between 2% and 5%.
Chinese state-owned insurance firm China Life Insurance is set to invest $250m in private equity fund TPG, the Wall Street Journal reported yesterday, citing a source familiar with the matter.
The funding will be provided as an equity investment, and will make China Life a general partner in TPG as it gets ready to raise a $10bn global buyout fund. The insurer will secure a stake in the firm sized between 2% and 5%.
Singaporean and Kuwaiti sovereign wealth funds…
