Bloomberg reported that Lenovo Group shares jumped 6.9% in Hong Kong last week on news that Texas Pacific Group, General Atlantic Partners and Newbridge Capital paid US$350 for a 12% stake in the company. Sensing that Lenovo could one day become global PC giant to beat, US private equity firms showed a marked new interest in the company since its purchase of IBM's PC business despite the fact the unit lost nearly US$1bn for IBM since 2001. An insurance industry fund manager told Bloomberg Lenovo would be tapping the new investors for their expertise. Big private equity players bring many things to the table, including extensive networks of their portfolio companies, raising the possibility of lucrative new tie-ups, and sales channels.
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