Private Equity: TPG to Launch Strategic Capital Fund
PE Shop to focus on minority stakes and taking board seats.
TPG has announced plans to launch a new strategic fund that emphasizes stakes in public companies. However, the activist-sounding fund would take a different approach. Rather than taking the hostile approach of corporate raiders, TPG’s strategy would mirror that of Berkshire Hathaway.
This means instead of pushing for management changes and proxy fights, it will aim to provide strategic support, equity, and a long-term focus. According to Bloomberg, the new fund will aim to take stakes of at least 5%.
TPG and Its Support Fund
Reports fail to note how much money TPG will raise. However, the fund does speak to a broader shift in strategy for private equity funds. With $1.5 trillion in dry powder on the sidelines, TPG is turning to the public markets as a means of deploying capital.
TPG has been busy over the last 12 months. The firm raised $14 billion for its eighth flagship fund and a healthcare pool in 2019. The firm has also focused on developing two large social-impact funds.
TPG has more than $103 billion of assets under management. It has offices in Austin, Beijing, Boston, Dallas, Fort Worth, Hong Kong, Houston, London, Luxembourg, Melbourne, Moscow, Mumbai, New York, San Francisco, Seoul, and Singapore.
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