TPG sells minority stake to Singapore, Kuwait SWFs
US-based buyout major TPG has reportedly sold a 4.5% stake in itself to sovereign wealth funds the Kuwait Investment Authority and the Government of Singapore Investment Corporation (GIC). The raised capital is said to be used for TPG’s own expansion, both geographically, in areas such as emerging markets, and its business offerings.
The news comes as firms look to alternative means to raise capital for their own use. Last week, Apollo Global Management became the latest private equity player to launch an IPO, but its debut was lukewarm,...
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