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Highlights
- TPG is reportedly in talks with Goldman Sachs and JPMorgan Chase to take the underwriting responsibility for the IPO.
- TPG was expected to merge with a special purpose acquisition company, however, it seems that it will now take the traditional IPO route.
- TPG is expected to file the documents with the US Securities and Exchange Commission (SEC) as early as September.
Leading global investment firm TPG is reportedly planning for a stock market listing that could value the company around US$ 10 billion. TPG has contemplated a public debut since the past decade, but the plans never materialized.
As per the company website, TPG currently holds US$ 96 billion in assets under management (AUM) and has 12 offices around the world.
The private equity company is reportedly in talks with Goldman Sachs and JPMorgan Chase to take the underwriting responsibility for the initial public offering (IPO).
Earlier, there were reports that TPG would opt for a merger with a special purpose acquisition company (SPAC), however, it is now expected to take the traditional route of a stock market listing.
If and when the company goes public, it is set to compete with rivals such as Blackstone (NYSE:BX), KKR (NYSE:KKR), and Apollo Global Management (NYSE:APO).
The money from the gross proceeds could be used by TPG to increase the AUM as it has fallen far behind its rivals. The company has US$ 96 billion in AUM, compared with Blackstone's US$ 684 billion.
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When can you expect the TPG IPO?
The global investment firm is expected to file the documents with the US Securities and Exchange Commission (SEC) as early as September and the company will likely go public by the end of this year or early 2022.
The public debut rumours come amid a series of changes at the company, including the appointments of the new CEO and CFO in the last three months. Jon Winkelried was named as the new CEO in May this year and Jack Weingart was named as the new CFO this month.
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Apart from the appointments, TPG also announced raising US$ 5.4 billion and counting to invest in companies focused on reducing the stress on the environment and fight climate change.
Although there is no announcement from the company, TPG could make its public debut on the New York Stock Exchange (NYSE) as its rivals are also listed on this stock exchange.
To get hold of the pre-IPO shares, investors could use online trading platforms offering users to bid for TPG stock, or hire a stockbroker to book the pre-IPO shares.
Bottomline
TPG could opt for a traditional IPO and not a merger with a SPAC. Listed blank-check companies boomed during the peak of the pandemic but recently, they have been surrounded by a series of controversies that affected the investor appetite.
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