China onwards ever upwards
The latest news on plans by the PRC insurance regulator, the China Insurance Regulatory Commission (CIRC), to clear the way for the country’s insurers to invest up to RMB122 billion ($33.2 billion) into private equity and direct investments appears to confirm the unstoppable rise of China to world status as a private equity venue. This is especially significant in the week after TPG Capital announced its plans to launch two RMB onshore
TPG was regarded, as sources confirm, as the perhaps-honorable holdout in the drive to set up RMB funds. Peers such as Blackstone and Carlyle stepped up with plans to float their own RMB vehicles, in partnership...
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