A consortium consisting of TPG Capital, CICC and Trail Capital agreed to acquire a 30% stake in APM Monaco, a contemporary jewelry brand. Financial terms were not disclosed. "APM Monaco's team is proud and looks forward to writing a new chapter of our brand history. TPG Consortium is the ideal leading global partner to continue to develop our contemporary luxury vision. TPG's unique expertise in growing iconic brands and their belief in our innovative products and business model make them an excellent partner to work with, and at the same time, China Synergy and Trail bring their respective strengths in China and Europe. We look forward to the opportunities that lie ahead of us as we expand domestically and globally optimizing our strengths with their expertise while keeping the strong identity and values of the brand," Philippe Prette, APM CEO.