TPG Holdings is acquiring an undisclosed stake in HS Group, an investment firm that provides seed capital to new hedge funds in Asia, said spokesman Owen Blicksilver in an e-mail.
Terms of the transaction and the size of TPG’s stake are not being disclosed. The transaction is subject to and conditioned upon shareholder approval.
In addition, TPG’s marketing group, Brooklands Capital Strategies, has entered into an agreement to refer institutional clients to HS Group. Tim Dattels, managing partner and co-head of TPG Capital Asia, will sit on the advisory board of the HS Group fund.
Last year, Swiss hedge fund-of-funds firm Gottex Fund Management entered into a relationship with HS Group to seed hedge fund firms in Asia.
“Asia’s hedge fund industry will see secular growth over the coming years, and HS Group’s relationships with the region’s strongest investment talent combined with institutional best practices complement TPG’s vision for this industry,” Mr. Dattels said in a news release.