TPG Growth, the global private equity firm's growth investment platform, has invested $26 million in Lilliput Kidswear, an Indian manufacturer and retailer of children’s clothing.
The investment follows Bain Capital's $61 million investment in Lilliput for a 30.7 percent stake just last week. Indian private equity firm Everstone Capital, an early investor in the company, exited its investment through that transaction.
Lilliput currently operates more than 250 retail outlets in India and another 30 stores in 10 different countries. Additionally, it supplies products to international brands like US’ Gap clothing company, Old Navy and France’s Carrefour. The equity infusion will be used to further expand Lilliput’s business, the company said in a statement.
In January earlier this year, TPG Growth invested £21 million (€24.3 million; $34 million) in Hyderabad-based Greenko, an independent power producer focused on the generation of renewable energy, for a stake of about 12.5 percent in the company.
TPG Growth manages capital worth more than $2.5 billion and is focused on investments in technology, life sciences, biotechnology, renewable energy and retail companies. It makes venture capital, growth equity, leveraged buyout and PIPE investments ranging from $20 million to $150 million globally.
It has a global presence with offices in the San Francisco, Menlo Park, Hong Kong, Beijing and Mumbai and extended coverage through its parent company’s offices in London, Japan, Korea and Australia.