TPG partners CICC Capital to set up China Synergy investment platform
An employee places genuine Chinese one-hundred yuan banknotes into a counting machine at the Counterfeit Notes Response Center of KEB Hana Bank in Seoul, South Korea, on Friday, July 13, 2017. Yuan is set to slide for fifth week, longest losing streak since July 2016, as escalating U.S.-China trade tensions weigh on sentiment. Photographer: SeongJoon Cho/Bloomberg
Global alternative investment firm TPG and CICC Capital, the private equity arm of China International Capital Corporation (CICC), has inked an agreement to jointly establish the China Synergy platform, it said in an announcement on Thursday.