This post was originally published on this site
Fort Worth, Texas-headquartered TPG, which did not reveal the number of shares it plans to sell or the indicative price range, said it plans to list on the Nasdaq under the symbol “TPG.”
The firm had considered going public earlier, according to media reports, to better compete with publicly traded rivals such as Apollo Global Management (NYSE:APO) Inc and Blackstone Group (NYSE:BX) Inc.
Known for its leveraged buyouts, TPG could be valued at around $10 billion, the Wall Street Journal had reported in June, citing sources.
“We evaluate various strategic alternatives from time to time. No decisions have been made and we have nothing to announce at this time,” a TPG spokesperson had said at the time.
Founded in 1992 by David Bonderman and Jim Coulter, TPG was launched as Texas Pacific Group in Mill valley, California. Its first major investment was in then-bankrupt Continental Airlines in 1993, according to TPG website.
J.P. Morgan, Goldman Sachs (NYSE:GS), Morgan Stanley (NYSE:MS), TPG Capital BD LLC and BofA Securities are the lead underwriters for the offering.
