TPG Is Evaluating a Public Listing

TPG, one of the last of the original private-equity giants to remain a closely held partnership, is evaluating a public listing, people familiar with the matter said.

The firm is considering a straightforward initial public offering and a merger with a special-purpose acquisition company, with the former being the most likely route, the people said. Such a deal could value the California-and-Texas firm at about $10 billion, some of the people said.

The process is still in its early stages and TPG may not opt to proceed with any deal.

Free Webinar: Personalizing One to Many: Investor Relations at Scale

Learn More
  • What are the best practices for investor relationships when the number of fund and LP’s increase?
  • How has technology reshaped investor relationship management?
  • What are the most important factors for LP’s when deciding where to place their funds now and in the future?

TPG, with nearly $100 billion in assets under management, has flirted with an IPO multiple times only to end up balking while rivals forged ahead. Blackstone, Apollo Global Management, KKR  and Carlyle Group went public years ago, transforming businesses that have enjoyed rapid growth as the industry is flooded with assets.

“As we have consistently stated, we evaluate various strategic alternatives from time to time,” a TPG spokesman said in a statement. “No decisions have been made and we have nothing to announce at this time.”

Source: Wall Street Journal

Can’t stop reading? Read more