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Private equity firm TPG valued at over $10 billion in strong market debut

By Manya Saini and Chibuike Oguh (Reuters) -TPG shares rose nearly 12% in their stock market debut on Thursday, valuing the 30-year-old private equity giant at more than $10...
Private equity firm TPG valued at over $10 billion in strong market debut © Reuters. A screen announces the listing of private-equity firm TPG, during the IPO at the Nasdaq Market site in Times Square in New York City, U.S., January 13, 2022. REUTERS/Brendan McDermid

By Manya Saini and Chibuike Oguh

(Reuters) -TPG shares rose nearly 12% in their stock market debut on Thursday, valuing the 30-year-old private equity giant at more than $10 billion, after the company went public to cash in on a pandemic-driven boost to the buyout industry's profits.

TPG will be looking at expanding its franchise into other areas such as credit and infrastructure, Chief Executive Officer Jon Winkelried told Reuters in an interview.

"We will continue to build on the business in the way we have historically - organic growth, seeing opportunities and building into it," he said.

TPG's stock market debut comes a decade after most of its major peers went public. The firm spent years recovering from a string of poor investments in the 2000s and diversifying its private-equity platform into growth and social impact investing.

The company holds nearly $109 billion in assets under management, with investments across a range of industries including in companies such as Airbnb Inc, Spotify Technology SA (NYSE:SPOT), Burger King, and McAfee Corp.

Founded in 1992 by David Bonderman and Jim Coulter, TPG was launched as Texas Pacific Group in Mill valley, California. Its first major investment was in the then bankrupt Continental Airlines in 1993.

Known for its leveraged buyouts, TPG has invested across sectors from retail to healthcare.

The Fort Worth, Texas-based company's shares opened at $33. TPG and its selling shareholders sold 33.9 million shares priced at $29.50 each, the mid-point of its target price range of $28 and $31 apiece announced earlier, raising about $1 billion.

TPG's net income jumped more than fivefold to $1.7 billion for the nine months ended September 2021. Its revenue surged to $3.89 billion, from $564.4 million a year earlier.

J.P. Morgan, Goldman Sachs (NYSE:GS), Morgan Stanley (NYSE:MS), TPG Capital BD LLC and BofA Securities are the lead underwriters for the offering.

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26-01-2022 08:43:59 (UTC+7)

EUR/USD

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Adidas AG

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 EUR/USD1.1278Neutral
 GBP/USD1.3510Neutral
 USD/JPY114.26Sell
 AUD/USD0.7172Buy
 USD/CAD1.2576↑ Buy
 EUR/JPY128.87Buy
 EUR/CHF1.0386↑ Buy
 Gold1,846.15Buy
 Silver23.983↑ Buy
 Copper4.5210Sell
 Crude Oil WTI86.90Neutral
 Brent Oil88.53↑ Buy
 Natural Gas4.181↑ Buy
 US Coffee C240.10↑ Sell
 Euro Stoxx 504,180.95Sell
 S&P 5004,356.45↑ Sell
 DAX15,501.99Neutral
 FTSE 1007,511.85Neutral
 Hang Seng24,289.90↑ Buy
 Small Cap 20002,004.80↑ Sell
 IBEX 358,664.49↑ Sell
 BASF67.775Sell
 Bayer51.74↑ Sell
 Allianz224.78↑ Sell
 Adidas246.43Sell
 Lufthansa7.069↑ Sell
 Siemens AG142.47Sell
 Deutsche Bank AG11.464↑ Sell
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,190/ 6,240
(-5/ -5) # 1,175
SJC HCM6,180/ 6,245
(-10/ -10) # 1,179
SJC Hanoi6,180/ 6,247
(-10/ -10) # 1,181
SJC Danang6,180/ 6,247
(-10/ -10) # 1,181
SJC Nhatrang6,180/ 6,247
(-10/ -10) # 1,181
SJC Cantho6,180/ 6,247
(-10/ -10) # 1,181
Cập nhật 26-01-2022 08:44:01
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ↀ Giá vàng thế giới
$1,846.30-3.44-0.19%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩmVùng 1Vùng 2
RON 95-IV2486025350
RON 95-II,III
E5 RON 92-II2359024060
DO 0.05S1890019270
DO 0,001S-V1925019630
Dầu hỏa1779018140
ↂ Giá dầu thô thế giới
WTI$86.47-1.5-1.77%
Brent$88.52-1.52-1.75%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD22.460,0022.770,00
EUR24.918,8126.315,80
GBP29.789,2431.061,45
JPY192,82204,12
KRW16,3519,92
Cập nhật lúc 18:54:49 26/01/2022
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