TPG Working With JPMorgan, Goldman Sachs on IPO Plan
(Bloomberg) -- Investment firm TPG is working with JPMorgan Chase & Co. and Goldman Sachs Group Inc. on plans for an initial public offering, according to people familiar with the matter.
TPG hasn’t made any final decisions on an IPO and its plans could still change, said the people, who asked not to be identified because the information was private. TPG could be valued at about $10 billion in a listing and had also been considering going public through a merger with a blank-check company, Bloomberg News has reported.
“We continue to evaluate strategic alternatives and have nothing to announce at this time,” a spokesperson for TPG said.
Representatives for JPMorgan and Goldman Sachs declined to comment.
TPG’s plans were reported earlier by the Wall Street Journal.
TPG was founded as Texas Pacific Group in 1992 by Jim Coulter and David Bonderman. The firm’s willingness to take massive bets on unloved or risky companies has often paid off. It was an early investor in Uber Technologies Inc. and Airbnb Inc.
The firm, which is based in Fort Worth, Texas, and San Francisco, makes bets in private equity, real estate and hedge funds. Last year, TPG and its credit platform Sixth Street ended their partnership.
©2021 Bloomberg L.P.