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.


Lifestyle

Survey: Wall Street Banks Still Top Silicon Valley, Hedge Funds for Freshly-Minted MBAs

Jun 21 2016 | 9:01pm ET

Contrary to concerns that Wall Street isn't as appealing to new graduates as it...

Guest Contributor

The Future of the Blockchain in Financial Services Communications

Jun 17 2016 | 1:05pm ET

Over the past year, a large portion of the financial services industry has awakened...