Saturday, 30 August 2014
Last updated 1 day 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.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...