| | OCTOBER 20238IN FOCUSCHINA AND RUSSIA TO FOCUS ON BUSINESS TIESTPG NAMES GANEN SARVANANTHAN TO SPEARHEAD MIDDLE EAST EXPANSIONIn a diplomatic exchange, Chinese Foreign Minister Wang Yi and Russian President Vladimir Putin expressed China's willingness to continuing business cooperation with Russia. President Putin accepted an invitation from his Chinese counterpart, Xi Jinping, to visit China in October, coinciding with the Belt and Road Summit.Following talks with Wang Yi in Moscow, President Putin emphasized the congruence of Russia and China's visions for a "large Eurasian space." He also stated that China's Belt and Road Initiative was critical to this shared vision. The Belt and Road Initiative is a massive program aiming at increasing Chinese influence in developing countries through massive infrastructural investments.Notably, since Russia's involvement in the Ukraine conflict, President Putin has redirected the country's focus towards China. However, China has kept its stance neutral as far as the Ukraine conflict is concerned. But Beijing has been strong in its stand in denouncing Western sanctions against Moscow, as per wionews.Furthermore, China has accused NATO and the US of inciting Russian military moves and has declared a "no-limits" friendship with Russia. During his visit, senior Russian security official Nikolai Patrushev urged Moscow and Beijing to improve policy coordination. He stated that this coordination is perceived as a response to Western efforts to restrict both countries while Putin has crucial security discussions with Beijing. The Kremlin has also frequently reaffirmed its support for Beijing, as Russia and China enhance their ties in the face of deteriorating relations with the West. Wang Yi's visit to Russia began on Monday (September 18) and will last four days. TPG Asia managing partner Ganen Sarvananthan has been chosen to lead the firm's activity and continued expansion in the Middle East, according to the announcement. Sarvananthan's hiring comes as TPG's business in Asia has grown significantly across all investment strategies, and also underlines the firm's commitment to create a dedicated presence in the Middle East, a developing region and area of investment for the firm.Sarvananthan will continue to support TPG's existing businesses and expansion across Asia as head of Asia and the Middle East, while also focusing on the firm's strategic alliances and growth in the Middle East. Sarvananthan will remain a TPG co-managing partner.Capital Asia, the firm's Asia-dedicated late-stage private equity business, in partnership with co-managing partners Joel Thickins (Australia) and Puneet Bhatia, as per thestar."TPG was one of the first private equity firms to invest in Asia. Now, with the completed integration of TPG NewQuest and the expected Angelo Gordon acquisition, we will have a formal presence in eight cities across the broader region," said Sarvananthan."The Middle East will be a key driver of our firm's future growth, and I look forward to partnering with our teams to capitalize on the opportunities we are seeing in these markets."Sarvananthan joined TPG as a partner in 2014 and has subsequently held a number of senior positions in the firm's Asia division, most recently as co-managing partner of TPG Capital Asia and Co-Head of Southeast Asia.
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