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30 April 2018 By Robyn Mak, Alec Macfarlane

The U.S. buyout shop is leading a $1 bln investment in the search giant’s payments, lending and wealth management business. It frees up resources for Baidu and helps it focus. For TPG’s group, it’s a big gamble on a laggard in a cutthroat industry facing tougher oversight.

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