TPG Capital
TPG eyes $2b second close on Asia fund, reduces final target – report
TPG Capital is said to be approaching a second close of $2 billion on its sixth Asian fund. The private equity firm has reduced the final target to $3.5 billion from $4 billion - it was originally said to be seeking $5 billion - and expects to reach a...
Indonesia financial services: Too hot to handle
For all the foreign strategic interest in Indonesia’s financial services sector, most deals are thwarted due to a huge gap in price expectations. PE investors are steering clear of the mainstream and looking for niche value
China’s CIC names ex-ICBC executive to head supervisory board
China Investment Corp. (CIC) has named Xiaopeng Li, a former vice president at Industrial & Commercial Bank of China (ICBC), as head of its supervisory board. He replaces Liqun Jin, who spent five years in the role.
PE-owned Australian power producer targets US debt issue – report
Alinta Energy, the Australian power producer controlled by TPG Capital, is said to be planning to raise at least $1 billion through a debt offering in the US. It joins a growing list of private equity-owned companies that are looking outside of Australia...
China GP differentiation: Plain vanilla no more
Independent funds have dominated Chinese private equity, but now princeling and affiliate funds have entered the market, offering their own competitive edge. GPs are realizing the merits of differentiation
TPG makes $301m partial exit from India’s Shriram Transport
TPG Capital has sold a 10% stake in Shriram Transport Finance (STF) to Piramal Enterprises for INR16.5 billion ($301.4 million). Piramal acquired 22.8 million shares for INR723 per share ($13.19) in an open market transaction.
TPG, Northstar in partial exit from Indonesia’s BTPN
TPG Capital and Northstar Pacific Partners have agreed to exit part of their stake in Indonesian lender Bank Tabungan Pensiunan Nasional (BTPN) to Japan's Sumitomo Mitsui Banking Corporation (SMBC).
TPG launches sale for China’s UniTrust
TPG Capital will begin the sales process for Shanghai-based finance and leasing company UniTrust this week. The deal is expected to be worth $800 million, with significant interest coming from other players in the leasing industry.
TPG increases stake in Indian bulk container manufacturer
TPG Capital has invested INR1.35 billion ($25 million) in Flexituff International through a subscription to foreign currency convertible bonds (FCCB), one month after buying a 5.34% stake in the company for INR270 million ($5 million)
Japan’s SMBC in talks with TPG to buy Indonesia bank stake – report
Sumitomo Mitsui Banking Corp (SMBC) is said to be in advanced talks to buy 40% of TPG Capital's stake in Indonesia’s Bank Tabungan Pensiunan Nasional (BTPN). The sale would enable the private equity firm to comply with the 40% cap on foreign ownership...
TPG Capital hires Morgan Stanley, UBS for UniTrust sale - report
Global buyout firm TPG Capital is to sell Shanghai-based finance and leasing company UniTrust for $800 million.
TPG, GIC backed Li Ning closes $238m convertible securities issue
Li Ning, the Chinese sports brand backed by the Government of Singapore Investment Corporation (GIC) and TPG Capital, had closed a convertible securities issue worth HK$1.85 billion ($238 million). The open offer was over-subscribed with the company receiving...
1Q analysis: Hard times
Mixed fortunes for Asia buyout funds on the road; large-cap deals weaken, but venture capital activity is on the rise; exits one of few bright spots thanks to spurt in trade sales
TPG completes take-private of China’s ShangPharma
TPG Capital has completed a management buyout of ShangPharma Corporation that values the Chinese pharmaceutical and biotech research outsourcing firm at $173 million. It is the sixth private equity-backed privatization of a US-listed Chinese company to...
TPG plucks chicken deal
TPG nearly missed out on acquiring Inghams Enterprises. When the Bob Ingham, the 81-year-old owner of Australia's top chicken producer, put the company on the block for A$1.5 billion ($1.5 billion) last July, the private equity firm came in with an offer...
PE recruitment: New territory, new talent
Indonesia has become a priority for global and regional PE firms looking to source deals in a high-growth market. The first step is finding the right people, and it’s not easy
TPG buys Australian poultry producer Inghams
TPG Capital overcame several rival private equity and strategic bidders to acquire Australian poultry firm Inghams Enterprises. The family-owned company didn’t confirm the financial details, although it has been reported that the deal valued Inghams...
Blackstone, TPG among bidders for Australia's Inghams - report
The Blackstone Group and TPG Capital have reportedly placed separate bids for Inghams Chicken, Australia's largest poultry producer.
TPG, Northstar approached for BTPN stake - report
Japanese banks Mitsubishi UFJ, Mizuho and Sumitomo Mitsui are said to be among potential suitors approaching TPG and Northstar Pacific Partners with a view to acquiring their stake in Indonesia's Bank Tabungan Pensiunan Nasional (BTPN). The PE firms'...
TPG in $303m partial exit from Shriram Transport
TPG Capital has sold about half its stake in Indian truck financier Shriram Transport Finance (STFC) for about INR16.6 billion ($303 million).
TPG-backed Li Ning to issue $241m in convertible securities
Li Ning, the Chinese sportswear retailer backed by Government of Singapore Investment Corporation (GIC) and TPG Capital, saw its stock drop 13.8% to HK$5.35 in Friday morning trading after announcing a plans to raise as much as HK$1.87 billion ($241 million)...
ShangPhama board agrees to TPG-backed buyout
ShangPharma Corporation, a Chinese pharmaceutical and biotech research outsourcing firm listed on the New York Stock Exchange, has agreed to management buyout by Michael Hui, the firm’s chairman and CEO, and TPG Capital. The transaction values the company...
Billabong receives $555m buyout offer - UPDATE
Billabong International has received a A$527 million ($555 million) buyout offer from Paul Naude, a director at the firm, with US-based Sycamore Partners participating as a cornerstone equity investor.
TPG-backed Li Ning warns of loss for 2012
Li Ning, the Chinese sportswear retail group backed by Government of Singapore Investment Corporation (GIC) and TPG Capital, will record a substantial net loss for the year based on its preliminary review for the 11 months ended November.