China Life Insurance Co. is making a $250 million investment in alternative investment firm TPG, said sources with knowledge of the transaction.
The size of the stake China Life would get in TPG or whether the state-owned insurance company has also agreed to commit to new TPG funds could not be determined by press time.
This is not the first time TPG has sold stakes to international investors. In 2011, GIC, Singapore's sovereign wealth fund estimated to have more than $300 billion in assets, and a group that included the $410 billion Kuwait Investment Authority invested about $1 billion for a minority stake in TPG.
Owen Blicksilver, TPG spokesman, declined to comment. Lan Yuxi, China Life spokesman, could not be reached by press time.