TPG To Borrow $291M To Buy GlobeOp

Feb 3 2012 | 12:20am ET

TPG Capital will pay for about one-third of hedge fund administrator GlobeOp Financial Services with debt.

The private equity giant said this week that Credit Suisse would arrange $291 million in financing for the $800 million acquisition.

TPG announced earlier this week that it had struck a deal to buy London-based GlobeOp, which put itself up for sale last month. TPG said it planned to finance the administrator's expansion, while leaving the firm in the hands of its current management team.

The buyout requires the approval of GlobeOp's shareholders.

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