TPG has reportedly given investors of its latest Asian private equity fund, TPG Asia V, the option to reduce commitments by up to 10 percent, according to global media reports. TPG Asia V achieved its final closing at approximately US$4.2 billion last year. (Pan-Asia)

The Carlyle Group has sold Wall Street English, China's leading provider of English language training for adults, to Pearson, an international education and information company. The transaction amount was US$145 million, in cash. (People's Republic of China)

Shanghai DaZhong Public Utilities (Group) Co., Ltd., which is an investor of Shenzhen Capital Group Co., Ltd., announced its participation in the 67.98 million yuan US$9.96 million) commitment to China Transportation Tong-Li Construction Co. Ltd., an infrastructure construction company. (People’s Republic of China)

Goldman Sachs Asset Management, the asset management arm of the Goldman Sachs Group, Inc., has raised US$5.5 billion for its fifth secondary fund. The GS Vintage Fund V will acquire portfolios of private equity assets ranging from US$1 million to US$1 billion. (Global)

The National Development and Reform Commission has approved the launch of the Zhongchuan Investment Fund Management Co. to steer the 20 billion yuan (US$2.9 billion) Tianjin Shipping Industry Investment Fund.
       Tianjin Shipping Industry Investment Fund is China's first industrial fund focused on the shipping industry. It targets 8 billion yuan as its first closing. (People's Republic of China)

CCB International Ltd, the Hong Kong-based subsidiary of China Construction Bank, has been granted approval by the National Development and Reform Commission to set up a 5 billion yuan (US$731.3 million) fund, according to domestic reports. The fund will invest in pharmaceuticals, medical equipment manufacturers, medical institutions and healthcare service companies. (People's Republic of China)

IFCI Venture Capital Funds Ltd. has teamed up with IDFC Project Equity and a local investor have invested an aggregate of 800 million rupees (US$16 million) in Sabarmati Gas td. for approximately 50% of the company, according to press accounts. (India)

Kohlberg Kravis Roberts & Co. ('KKR') is reportedly interested in taking a significant minority position in United Spirits Limited , one of the world's top three spirits companies. According to The Economic Times of India, KKR's stake could be around 14.8%. (India)

Nippon Mirai Capital Co., Ltd. ('NMC') has completed its tender offer bid for shares in Nanbu Plastics Co. Ltd. ('Nanbu'). NMC recently acquired a 94% equity stake of Nanbu for ¥6.5 billion (US$64.3 million) and will buy the remaining shares at ¥1,200 apiece. (Japan)

Unison Capital Inc. announced its intention to implement a tender offer for shares in Aderans Holdings Co. for a minimum amount of ¥14.7 billion (US$148.4 million). Subject to shareholders' approval, Unison Capital will launch the tender offer in June to acquire at least 14.7 million shares, or 35.2% of Aderans shares, for ¥1,000 per share. (Japan)

The Hong Kong-based RimAsia Capital Partners, LP has teamed up with two other investors and invested a total of US$11 million in a private placement in NeoStem, Inc. ('NeoStem'). Earlier, RimAsia Capital Partners had invested in the New York-based NeoStem which manages a network of adult stem cell collection centers. (Offshore)

Unitas Capital Pte. Ltd. (Unitas) has announced the appointment of Mr. Xiaolu Lian as Managing Director of its Shanghai office. (People's Republic of China)