TPG Will Halve China Investments in New $5 Billion Asia Fund

TPG Inc. will soon close its eighth Asia buyout fund at around $5 billion, with the new portfolio set to slash its China allocation by more than half from prior regional funds, according to a person familiar with the matter.

The investment firm plans to put about 10% of its Asia VIII pool in China, down from around 25% of invested capital in previous funds, according to the person, who asked not to be identified because the information isn’t public. TPG will allocate more than 80% in Australia, India and Southeast Asia — up from 70% in the predecessor fund, ...