TPG related stories
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Report: China invests $2.5bn in TPG fundThe private equity firm’s latest global buyout fund, targeting an estimated $20bn, now reportedly counts China’s State Administration of Foreign Exchange as a substantial investor.
- TPG to take 23% stake in UK lender
The US private equity firm will again provide rescue financing for a financial institution rocked by the subprime and corporate credit dislocations, this time agreeing to inject £179m in Bradford & Bingley.
- TPG re-finances private jet firm
TPG-backed XOJET has secured nearly $2.5bn in debt and equity financing from investors and has agreed a separate joint venture with Tasameem Real Estate to establish a hub in Abu Dhabi.
- RBS shuts out buyout firms from £7bn insurance sale
The UK bank has ruled out financial sponsors as bid candidates for its sale of insurance assets such as Direct Line and Churchill. The bank is thought to be worried about buyout firms’ ability to finance such a bid.
- Aquiline consortium founds mid-market lender with $1.75bn
TPG and New Mountain Capital have joined an investment in Tygris Commercial Finance Group, which in turn has agreed to acquire a DLJ Merchant Banking-backed equipment finance company.
- Stirling Square and Sirius buy Italian clothing company
The two firms plan to expand Jeckerson in Italy and internationally backing the company’s management with an increase in marketing and advertising budgets.
- £3bn demand for Alliance Boots
The syndicating banks are now reconsidering the amount they want to sell as the planned £1bn syndication is over-subscribed at the discounted rate of 91 percent to face value. Some of the selling banks are reluctant to meet the demand.
- KKR starts infrastructure initiative, hires banking expert
KKR has recruited George Bilicic, a Lazard banker, who advised the firm on its $45bn TXU buyout, as it plans to launch a $5bn infrastructure fundraising, according to a report.
- TPG, Bain, Goldman to sell 12% of their Burger King shares
The private equity trio will again slash their stake in the fast food giant, two years after a $425m public offering.
- CRIME PAYS
With its recent acquisition of a steel products manufacturer, Sentinel Capital Partners has e ntered the lucrative US market for prison-related industries.