TPG related stories
All articles and analysis
Virginia pension commits $215m to private equityThe $55bn Virginia Retirement System has made commitments to TPG, Austin Ventures, Great Hill Partners and Oaktree Capital Management following a 2007 bump in the pension’s private equity allocation to 10 percent.
- Study: Buyout volume shrinks 74% in 2008
Private equity-backed M&A has steeply declined both in terms of total volume and as a percentage of M&A worldwide.
- GIP to buy AIG’s stake in London's City Airport
The single runway airport will belong solely to Global Infrastructure Partners after it buys out co-owner AIG’s stake in a transaction reportedly valued at £250m. The two firms bought the airport in 2006 from Irish billionaire Dermot Desmond.
- GIC to shift sights to private equity
Singapore’s largest sovereign fund has increased its investments in private equity and real estate in recent years – a trend likely to continue owing to the turmoil in the financial markets. The change was revealed as part of its first performance report, which also shed rare light into the GIC’s structure.
- US banks attract record $5.5bn private equity investment
Despite a difficult credit market and unprecedented volatility in the US financial services sector, private equity firms poured nearly $6bn in US banks in the first half of the year and are on track to invest more.
- TPG loses remaining $1.3bn stake in WaMu collapse
The biggest bank failure in US history is also one of the biggest publicly disclosed private equity losses in history. TPG has stressed that the investment represented only a small portion of its diversified assets.
- Report: WaMu seeks private equity buyers
The ailing savings and loan had previously sought to be taken over by banking giants JPMorgan and Citi, but as such talks have not yet resulted in any deal, the bank is reportedly seeking a deal with Blackstone or Carlyle.
- French utility says Buffett beat KKR, TPG with lower bid
KKR, TPG and French energy giant Electricite de France have lost a bidding war with Warren Buffett-led Berkshire Hathaway for the US utility company. The private equity consortium had offered to pay roughly $1.5bn more for Constellation Energy.
- TPG to invest $120m in Indian consumer finance company
The global buyout firm is to acquire a 26.7 percent stake in Shriram City Union Finance, its second investment in the Shriram Group in two years. The investment will be made from its recently closed $4bn Asian fund.
- Merrill’s $6bn private equity arm in limbo
As part of a frantic weekend on Wall Street, Bank of America has agreed to acquire Merrill Lynch. A spokesman said it is ‘too early’ to tell whether the deal will include the investment bank’s private equity portfolio, or if it will spin out as an independent firm, as did Bear Stearns Merchant Banking.