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TPG to Invest US$108.6 Million in Xinyuan Real Estate (Asia)

Global private investment firm TPG has agreed to invest US$108.6 million in China-based residential real estate developer Xinyuan Real Estate for about a 20 percent stake. Through the transaction, TPG will purchase convertible notes worth US$75.8 million and common shares worth US$32.9 million. Xinyuan intends to use the capital injection for land acquisition and to support company development.