The North Asia-focused buyout firm is part of a consortium that has been selected as the preferred bidder for Kumho Rent-A-Car, in a deal expected to be valued at about W300bn.
Less than a month after reports of a possible $300m investment in Japan's national airline, TPG and American Airlines have offered to invest up to $1.1bn in the struggling carrier.
TPG is once again targeting a struggling airline, having teamed with American Airlines on a joint bid to restructure JAL. Rival US-based carrier Delta is also bidding.