Global investment firm TPG has participated in the US$173 million privatization of China’s ShangPharma Corporation. ShangPharma is a pharmaceutical and biotechnology research and development outsourcing company previously listed on the New York Stock Exchange. TPG originally invested US$35 million in ShangPharma in 2007, and partially exited the company following ShangPharma’s 2010 initial public offering. TPG reportedly contributed up to US$25 million in equity financing for the privatization.