Group will own about 10 percent of company when deal closes Three U.S. private equity firms confirmed Wednesday that they will invest $350 million in China’s Lenovo Group to help fund its takeover of IBM’s PC business. Trading of Lenovo’s shares on the Hong Kong Stock Exchange was suspended for several days on rumors of the deal.Texas Pacific Group (contributing $200 million), General Atlantic LLC ($100 million) and Newbridge Capital LLC ($50 million) will collectively own around 10 percent of Lenovo when their investment deal closes. If they exercise options included in the deal, their ownership stake will rise to 12 percent.Lenovo plans to use $150 million of the investment to finance its purchase from IBM. The remaining $200 million is earmarked for general working capital. IBM announced in December that it would sell its PC business to Lenovo, a deal valued at around $1.75 billion including cash, equity, and the assumption of balance sheet liabilities. Lenovo said it expects the deal to close in the second quarter of this year. The arrangement with the three investment firms slightly reduces IBM’s overall ownership stake in Lenovo, which will now be around 13 percent. IBM’s voting stake will remain the same, Lenovo said.Lenovo said the deal gives it cash as well as access to the firms’ expertise in assisting technology companies.“With rich experience helping companies integrate operations, their participation in the new Lenovo will further ensure a smooth transition period and stable development in the future,” Lenovo Chief Executive Officer Yuanqing Yang said in a written statement. The three companies each have extensive holdings in the technology industry. Texas Pacific Group is one of seven firms participating in the $11.3 billion private buy-out of SunGard Data Services Inc. announced this week. Its other investments include Business Objects SA and Seagate Technology LLC. General Atlantic has invested in China for five years, where it has stakes in semiconductor company Vimicro and networking and services firm Digital China. Newbridge Capital is a Fort Worth, Texas-based firm (established in part by Texas Pacific) that focuses its investments on Asia. Its portfolio includes Internet services company HiChina and network services firm Zoom Networks. Technology Industry