State-backed China Life (LFC.NYSE, 2628.HKG, 601628.SHA), the world’s third-largest life insurer, plans to inject US$250 million into TPG, Financial Times reported. While the size of the stake that China Life will take in TPG is yet to be confirmed, some reports have suggested the insurer will hold between 2% and 5% of the buyout group – a range that values TPG at US$5 billion to US$12.5 billion. It will be one of the first Chinese investments in the buyout industry since CIC took a US$3 billion stake in US private equity group Blackstone (BX.NYSE) in 2007 and suffered bruising initial losses.
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