TPG related stories
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Former Morley chief to advise PermiraKeith Jones is now a senior advisor for Permira’s financial services team, which is led by James Fraser and will increasingly look to target wealth management assets in play.
- Last round: You’ve chosen the finalists, now choose the winners
The final voting round is open for the Private Equity International Awards. Will Apax again be voted European LBO firm of the year? Is the best North American LP still Yale? Can Advent again take the honours in Latin America? Might Abraaj be displaced as best Middle Eastern firm? Influence all these races and more by voting now.
- TPG slashes finance fund by 25%
A $6bn fund targeting financial services closed last year will downsize to $4.5bn in commitments. TPG is telling investors an influx of US government rescue cash to the sector has diminished opportunities.
- Accused of collusion
Christopher Witkowsky explains why 14 private equity firms may have to defend themselves in a Massachusetts court.
- TPG, Goldman close largest ever private equity exit
The two mega-firms officially closed the sale of Alltel to Verizon Friday for $28bn after holding the wireless carrier for about a year. The firms reaped a profit of $1.3bn on the deal.
- Lehman buyout arm to spin out
Lehman Brothers Merchant Banking will partially spin out as an independent firm, while the failed bank will retain ownership of a portion of the funds. Limited partners in Lehman’s most recent buyout fund have been given the option to reduce unfunded commitments by 25%.
- TPG’s European credit management chief resigns
Oliver Blechner has resigned amid reported rumours of a personality clash at the top.
- TPG replaces Asia chief
The firm's Asia head, Dan Carroll, has been replaced by emerging markets head Stephen Peel. Carroll originally agreed to move to Hong Kong in 2005 for a two-year stint and has now returned to the US.
- TPG allows LPs to cut commitments by $2bn
The firm will also cut management fees across the board and has promised not to call more than 30% of LPs’ total commitment next year.
- PCCW take-private bid raised at last minute
Richard Li and China Netcom, two of the telecom company's largest shareholders, have upped their offer from HK$4.20 to HK$4.50 per share, in a bid to win over minority shareholders.