Legend Holdings

The move comes a year after Chinese investment group Legend Holdings acquired an 89.9% stake in Banque Internationale à Luxembourg.

The $828bn sovereign wealth fund joins existing investors CVC, Reinet and Legend Holdings.

The parent of Hony Capital and Legend Capital also intends to list itself and some of its subsidiaries ‘in the near future’.

TPG has teamed up to buy an 11% stake in Wumart with Chinese private equity firm Hony Capital and its parent, Legend Holdings.

The firm is also raising capital for its eighth flagship fund and second healthcare fund, targeting more than $1bn for both vehicles.

Fears of a bear market, declining UK appeal and Asian acquisitions are expected to dominate the continent in 2018.

The China-focused investment firm is preparing to hold the final close on its seventh vehicle by the end of March, PEI has learned.

The Japanese company has lined up its second tech-focused deal from its $100bn fund, following an investment earlier this month in satellite operator Intelsat.

The Beijing-based firm had initially backed the company’s A$3.5bn funding round last year.

The China-focused firm is also raising a $600 million co-investment vehicle for to allow investors to participate in cross-border trade outside of China.

Ex-Hony Capital investment director Ron Li has joined the Switzerland-based fund of funds in Beijing to lead its China operations in private equity and real assets.

Investment and exit activity seen recently in Asia should provide a boost to the region’s flagging morale – and kick-start some private equity industry recovery.