American private equity business TPG Capital Management is heading an investment collective to acquire 30 per cent of Hong Kong jeweller APM Monaco.

While financial details have not been revealed, a person with knowledge of the transaction suggested that the firm’s valuation stands at about US$800 million.

TPG’s investment will be channelled through a private equity fund it has previously established to focus on Asian investments, which controlled more than $4.6 billion in committed capital as of last February.

APM Monaco operates around 200 outlets in 26 countries, the majority located in Europe.