US private equity firm TPG is in talks with investors in Abraaj Group's $1bn healthcare fund about taking over management of the fund's hospitals and clinics in developing countries, people familiar with the matter have told FN's sister publication Private Equity News.

Talks between investors in the fund, including the Bill & Melinda Gates Foundation, and executives at TPG are at an early stage and an agreement hasn't been reached, the people said. TPG would likely manage the healthcare assets through its Rise fund, the people said.