The firm, which holds large stakes in Spotify, Vice Media and talent agency CAA, is looking to raise nearly $900 million from investors.
said it has started offering 33.9 million shares of stock, including 28.3 million shares offered by the company, to the public at an expected price of $28 to $31 per share—indicating the firm could raise between $792 million and $877.6 million.
With nearly 307 million shares outstanding, TPG would be valued at more than $9.5 billion given the offering's high end of pricing. The Texas and San Francisco-based firm said it plans to use about 40% of the offering's proceeds to buy up its own partnership interests and the remaining funds for offering expenses and general expenses.request for comment, has tapped JP Morgan, Goldman Sachs and Morgan Stanley as underwriters for the offering.Holding some $109 billion in assets, TPG would become the fourth-largest publicly traded private equity firm in the U.S. by assets, behind Blackstone , Carlyle Group and KKR .
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