TPG in US$715 Million China Exit (Asia)
Source: Haitong Securities, Private Equity International | Author: Clare Burrows
Global private investment firm TPG has sold its stake in China-based holding company UT Capital, operator of UniTrust Finance & Leasing Corporation, to financial service provider Haitong Securities’ subsidiary Haitong International Holdings in a deal worth US$715 million. TPG, which owned a 100 percent stake in UT Capital, replaced company management and built out the company’s processes to provide leasing services to nine sectors over the course of its ownership. TPG originally invested in 2008.