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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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17-01-2022 11:35:41 (UTC+7)

EUR/USD

1.1405

-0.0009 (-0.08%)

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EUR/USD

1.1405

-0.0009 (-0.08%)

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Sell (8)

GBP/USD

1.3653

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USD/JPY

114.58

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AUD/USD

0.7211

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1.2515

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EUR/JPY

130.68

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EUR/CHF

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US Coffee C Futures

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Euro Stoxx 50

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68.200

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52.80

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Allianz SE VNA O.N.

227.00

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Adidas AG

252.71

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Deutsche Lufthansa AG

7.210

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146.53

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12.020

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 EUR/USD1.1405↑ Sell
 GBP/USD1.3653Neutral
 USD/JPY114.58Neutral
 AUD/USD0.7211Neutral
 USD/CAD1.2515↑ Sell
 EUR/JPY130.68↑ Sell
 EUR/CHF1.0425Neutral
 Gold1,818.55Neutral
 Silver23.012↑ Sell
 Copper4.4272↑ Buy
 Crude Oil WTI83.53Neutral
 Brent Oil86.23Neutral
 Natural Gas4.308↑ Buy
 US Coffee C239.65↑ Buy
 Euro Stoxx 504,303.75↑ Sell
 S&P 5004,662.85↑ Buy
 DAX15,937.38↑ Sell
 FTSE 1007,611.78↑ Sell
 Hang Seng24,218.03↑ Buy
 Small Cap 20002,163.90↑ Sell
 IBEX 358,840.38↑ Sell
 BASF68.200Neutral
 Bayer52.80↑ Buy
 Allianz227.00↑ Buy
 Adidas252.71↑ Buy
 Lufthansa7.210↑ Sell
 Siemens AG146.53Neutral
 Deutsche Bank AG12.020↑ Buy
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,120/ 6,160
(0/ 0) # 1,148
SJC HCM6,110/ 6,170
(10/ 0) # 1,158
SJC Hanoi6,110/ 6,172
(10/ 0) # 1,160
SJC Danang6,110/ 6,172
(10/ 0) # 1,160
SJC Nhatrang6,110/ 6,172
(10/ 0) # 1,160
SJC Cantho6,110/ 6,172
(10/ 0) # 1,160
Cập nhật 17-01-2022 11:35:44
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ↀ Giá vàng thế giới
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Sản phẩmVùng 1Vùng 2
RON 95-IV2400024480
RON 95-II,III2390024370
E5 RON 92-II2291023360
DO 0.05S1838018740
DO 0,001S-V1873019100
Dầu hỏa1719017530
ↂ Giá dầu thô thế giới
WTI$84.08-0.34-0.40%
Brent$86.23-0.49-0.56%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD22.540,0022.850,00
EUR25.234,8826.649,42
GBP30.246,4531.537,99
JPY192,66203,94
KRW16,5020,10
Cập nhật lúc 18:52:49 17/01/2022
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