Wednesday, 1 October 2014
Last updated 10 hours ago
Apr 4 2011 | 1:23pm ET
Private equity giant TPG Holdings has sold a stake in itself to a pair of major sovereign wealth funds, raising several hundred million dollars.
The firm, which has some $48 billion in assets under management, told investors last week that it had sold a roughly 4.5% stake to the Government of Singapore Investment Corp. and Kuwait Investment Authority. Both sovereign funds are longtime investors in TPG.
"Yesterday we completed a private sale of a small, passive minority economic stake in the consolidated general partner of TPG," firm founder David Bonderman wrote to TPG investors without identifying the buyers. "We have chosen a private transaction as a path to provide capital to our firm," he added, indicating that TPG will not follow rivals Apollo Global Management, the Blackstone Group and Kohlberg Kravis Roberts with an initial public offering of its own, as the Carlyle Group hopes to do next year.
The proceeds of the sale will be used to increase hiring and expand its investment activities into emerging markets and real estate, The Wall Street Journal reports. The deal values TPG at about $11 billion, almost as much as KKR.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...