TPG Purchases Strategic Investment in Xinyuan Real Estate
Ropes & Gray advised leading private equity firm TPG Capital on its strategic investment in Beijing-based Xinyuan Real Estate Co., Ltd. (Xinyuan), a Chinese real estate developer. TPG Capital invested approximately US$108.6 million through the purchase of convertible notes and common shares.
TPG is a longstanding client of Ropes & Gray, both in Hong Kong and globally. Earlier this year, Ropes & Gray advised a buyer consortium that included TPG Capital in its US$178 million take-private acquisition of ShangPharma Corporation, a leading China-based pharmaceutical company.
The Ropes & Gray team was led by partners Gary Li (private equity) and Daniel Anderson (hedge funds).