TPG betting on rise of Chinese middle class

TPG, the global private equity firm, will invest more than $45 million in Chinese sportswear manufacturer China Vogue, gambling that a growing Chinese middle class can be lured towards a flurry of consumer spending. The TPG consortium includes Partners Group and an existing shareholder in China Vogue, ARC China Holdings Ltd. TPG has already invested in Chinese PC-maker Lenovo, shoe-seller Daphne and supermarket chain WuMart.

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