Californian PE giant TPG valued at over $10bn in stellar US public market debut

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TPG Capital, the 30-year-old American private equity giant headquartered on San Francisco, California, jumped more than a jawdropping 12 per cent in a stellar US public market debut on Thursday, valuing the private equity mogul at over $10 billion, as the firm seems to be banking on a pandemic-driven boost to raise fresh funds in a bid to expand its franchises into other areas such as credit and infrastructures.

Meanwhile, addressing to an expansion stratagem, TPG Capital Chief Executive Jon Winkelried said to a press agency reporter, “We will continue to build on the business in the way we have historically - organic growth, seeing opportunities and building into it”.

Surprisingly, TPG Capital’s public market floatation came forth nearly a decade after most of its major peers went public, as the firm had reportedly spent years to recoup losses from poor investments what it had made earlier in 2000s.

TPG Capital surges nearly 12 per cent in stellar US public market debut

On top of that, founded back in the 1992s by a David Bonderman alongside Jim Coulter, TPG turned out to be private equity behemoth with more than a whopping $109 billion under its management.

Nevertheless, TPG Capital’s share opened at $33 apiece followed by an initial offering where its shareholders had sold off 33.9 million stocks at a price tag of $29.50 per share, raising a stark upsum of about $1 billion.

According to TPG Capital, the private equity fund which has investments on tech titans such as Spotify alongside McAfee among other top-tier firms, had shelved a net income of $1.7 billion over last nine months of fiscal 2021 that ended on September 2021, reporting a five-fold growth over the timeframe on a year-on-year basis.