American International Group (AIG) seeks expansion of its private equity investments in China to real estate projects in second-tier cities, The Standard reported. The paper quoted Olin Wethington, chairman of AIG Companies in China, as saying that the firm wanted to fill out its business in China to be more in line with its global operations, which include consumer finance services such as asset and wealth management and investments in private equity and property. "We're looking not at the big mega- deals, but deals that are in the 25 to 100 million US dollars range and that have an entrepreneurial management, maybe unique technology," he said. Wethington said AIG was considering buying into projects in specialty steel technology, aviation-related services and the consumer retail area. It was seeking to close several such deals in the near future, with one expected to be announced as early as October, he said. Wethington also said AIG was hoping to expand its property investment in China, which is limited to a stake in one commercial property in Shanghai. He named Tianjin, Nanjing and Dalian as potentially "interesting" locations for commercial properties. AIG was also hoping to improve distribution channels for its insurance products to keep up with the industry's overall growth in China.