TPG plans to raise as much as $877m in an initial public offering that could value the US buyout firm at more than $9bn, as it seeks to tap a wave of investor interest in private equity.
After laying out its intention to go public last month, TPG, which was co-founded by David Bonderman and Jim Coulter in 1992, said on Tuesday that it planned to sell 28.3m shares at between $28 and $31 each.
TPG resisted going public following the financial crisis, a route taken by rivals including Blackstone, KKR and Apollo and one that has paid off handsomely as their shares have surged. The Texas-based group, whose investments include Spotify, Uber and Airbnb, has $109bn in assets.
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