Key players include Chinese conglomerate

The key players behind a deal to buy most of Montreal’s famed Cirque du Soleil include a group of Texas-based leveraged buyout kings and a Chinese conglomerate often compared to Warren Buffett’s Berkshire Hathaway.

The entertainment company announced Monday it has signed a deal to sell a majority to U.S. private-equity firm TPG for an undisclosed price. Earlier reports had suggested the sale figure could be around $1.5 billion (U.S.).

Chinese investment firm Fosun, and Quebec’s pension fund manager, Caisse de dépôt et placements, would also be involved as minority investors.

TPG, formerly Texas Pacific Group, one of the world’s largest private equity firms, has $67 billion of capital under management, according to its website.

The company specializes in distressed investments and turnaround situations in a broad range of industries, including consumer/retail, media, telecommunications, travel and leisure, and health care.

Led by David Bonderman, whose net worth is $2.6 billion, according to Forbes magazine, the company was founded in 1992 by a group of leveraged buyout kings, who parlayed a $66-million investment in faltering Continental Airlines into $640 million.

The company has also had failures, including the recent bankruptcy of Caesars Entertainment.

Fosun Group is China’s largest privateequity firm with $9.8 billion in assets under management.

Founded by four graduates of Fudan University in 1992 just as China’s economy was opening, Fosun initially focused on industrial and property. It added insurance and investments in a variety of other business, including France’s Club Med.

Its leader, Guo Guangchang, is one of China’s richest billionaires.