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Private equity firm TPG states that it specializes in “growth themed companies” and has been investing actively in the entertainment, media, and technology space in recent years.
Private equity firm TPG is soon planning for an initial public offering in the United States as per the regulatory filing on Thursday, December 16. The company plans to list on the tech-heavy NASDAQ exchange under the ticker TPG.
With more than $100 billion in assets under management, TPG has been active in the entertainment, media, and technology space in recent years. Besides, TPG is also known for investing in popular media and entertainment companies like Spotify, STX Entertainment, Vice Media etc.
The Texas-headquartered asset manager didn’t reveal the number of shares it plans to sell. But as per the last WSJ report in June 2021, the company valuations stand at around $10 billion. Back in its founding year of 1992, TPG launched as Texas Pacific Group in Mill Valley, California. Also, its first major investment was in Continental Airlines in 1993.
The latest decision of TPG to go public coincides a lot with a large number of IPOs happening this year. Furthermore, shares of some of its rival companies like Apollo Global Management, KKR & Co, Carlyle Group and Blackstone Inc. have surged more than 50% this year.
TPG’s Sectorwide Investments
TPG has been investing across sectors that include retail to healthcare. Apart from its portfolio in tech companies like Uber and Spotify, TPG’s portfolio also includes companies like Airbnb and Burger King. Besides, TPG has also launched several sector and region-focused funds along with TPG Biotech. It has also launched a growth equity platform invested in online survey companies like SurveyMonkey.
Besides, TPG has also been among the first private equity firms to invest in China. Furthermore, it has also sponsored several special purpose acquisition companies (SPACs).
In the S1-form submitted to the US SEC on Thursday, TPG cites its ability to pick investments in “growth-oriented themes”. In the filing, TPG noted:
“In 2021, TPG Partners VI sold CAA to a [continuation vehicle] managed by TPG, creating a full, successful exit for TPG VI, an option for our limited partners to roll their investment, and an opportunity for TPG to continue creating value for our investors and earning management and performance fees.”
The private equity firm said that it is already invested in 280 active companies. Banking giants like JPMorgan, Goldman Sachs, Morgan Stanley, TPG Capital BD LLC and BofA Securities will be taking the underwriting for the offerings.