TPG, a powerful buyout firm formally known as Texas Pacific Group, is considering selling a stake of less than 20% of its equity to outside investors, The Wall Street Journal reported Tuesday.
The stake wouldn’t be directly available to the public through an initial public offering, but could be offered to some of TPG’s current large pension-fund investors, the Journal reported, citing to people familiar with the matter.
TPG, managed by turnaround specialists David Bonderman and Jim Coulter, has been at the centre of numerous high-profile takeovers throughout the current boom in the practice, including the buy-out of Texas utility TXU and Burger King Holdings. The company manages $30 billion to $40 billion in investment assets, the Journal said.
The pension fund investors of TPG would become partial owners of the group if the deal was completed and could signal a future IPO for the private-equity firm, said the Journal.