TPG files from vaunted private equity firm for IPO
Renowned private equity firm TPG filed an initial public offering with the Securities & Exchange Commission on Thursday.
He did not specify the size of the planned offer, but knowledgeable sources told the Wall Street Journal in June that it could be valued at $ 10 billion. Fort Worth-based TPG was founded by David Bonderman and Jim Coulter as the Texas Pacific Group in 1992.
Top TPG Peers Have Already Go Public, Including Apollo Global Management (AINV) – Get the report from Apollo Investment Corp., Black stone (BX) – Get the Blackstone Inc., Carlyle Group (CG) – Get the report from Carlyle Group Inc and KKR (KKR) – Get the report from KKR & Co. Inc.. Their shares have skyrocketed this year, with Blackstone gaining 92% to date.
TPG posted a profit of $ 3.82 billion in the first nine months of the year, up from $ 295.17 million the year before, according to its SEC filing. It had $ 109 billion in assets under management as of September 30.
The company plans to list on the Nasdaq Global Select marketplace with the symbol “TPG”.
He has invested in a wide range of industries, including major commitments to technology. Some of its big names include Airbnb Inc ABNB, Burger King, Uber Technologies UBER, Spotify Technology SPOT, and SurveyMonkey. Its first major foray was at Continental Airlines in 1993, reports Reuters.
In other IPO news, social media platform Reddit announced Wednesday that it has filed a confidential filing with the SEC for an IPO. The number of shares to offer and the price range have not yet been determined, he said.
Reddit came into the limelight earlier this year, after its WallStreetBets members banded together and targeted actions from memes like GameStop GME.