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WSJ: TPG Leads Race for Dow’s Styron

Posted on: March 1st, 2010

(Reuters) - U.S. private equity firm TPG Capital has emerged as a front runner to buy Dow Chemical's (DOW.N) Styron plastics business, Wall Street Journal said, citing several people familiar with th...


peHUB

Apollo, TPG Still Bidding for Styron

Posted on: February 23rd, 2010

NEW YORK (Reuters) - A number of private equity firms put in second round bids for Dow Chemical's (DOW.N) Styron unit a week ago, including buyout firms TPG and Apollo, several sources said. Dow, t...


peHUB

KKR, Bain, TPG Vie for Morgan Stanley CICC stake

Posted on: February 2nd, 2010

HONG KONG (Reuters) - Three U.S. private equity firms are on a shortlist to submit final bids for Morgan Stanley's (MS.N) $1 billion plus stake in China's top investment bank, three sources briefed on...


peHUB

TPG Not In Talks with Tompkins

Posted on: January 8th, 2010

LONDON (Reuters) - Private equity firm TPG Capital is not involved in discussions with London-listed engineering group Tomkins (TOMK.L) about a takeover, a person familiar with the matter said on Fri...


peHUB

JAL Bankruptcy Proposed As Option to Banks

Posted on: December 28th, 2009

TOKYO (Reuters) - A state-backed turnaround fund may seek to put Japan Airlines Corp through bankruptcy court as part of a restructuring of the struggling carrier, two sources with knowledge of the ma...


peHUB

Neiman Marcus Profits Fall, Sees Lasting Slowdown

Posted on: December 9th, 2009

NEW YORK (Reuters) - Upscale retailer Neiman Marcus Inc reported sharply lower quarterly profit as worried consumers continued to avoid luxury items amid a slowdown the company expects will last for s...


peHUB

TPG, Sinopec Deny LyondellBasell Report

Posted on: November 25th, 2009

HONG KONG (Reuters) - Asia's top oil refiner China Petroleum and Chemical Corp and U.S. private equity firm TPG Capital are not considering a bid to buy bankrupt chemical company LyondellBasell Indust...


peHUB

Australian Tax Fight with TPG Worries Foreign Investors

Posted on: November 25th, 2009

MELBOURNE (Reuters) - Australia's tax office has hit U.S. private equity group TPG Capital with a $628 million bill for tax and penalties, in a dispute that threatens to deter further foreign investme...


peHUB

TPG Offers Financial Fund Size Cut

Posted on: November 16th, 2009

NEW YORK (Reuters) - Private equity firm TPG Capital is offering investors the opportunity to reduce the size of their commitments to a financial fund, TPG Financial Partners, a source familiar with t...


peHUB

American Says TPG Could Invest in Japan Airlines

Posted on: November 11th, 2009

TOKYO (Reuters) - Private equity firm TPG Capital could partner with American Airlines on a minority investment in Japan Airlines (9205.T) to prevent its defection to a rival airline group, the chief ...


peHUB

TPG, CPP To Buy IMS Health for $5.2 Billion

Posted on: November 5th, 2009

TPG Capital and the Canada Pension Plan have agreed to buy IMS Health (NYSE: RX), a provider of data on prescription drug sales, for $22 per share (50% premium to last Friday's closing price). The to...


peHUB

TPG Investing $500 Million into Valerus Compression Services

Posted on: November 2nd, 2009

NEW YORK (Reuters) - Private equity giant TPG Capital is investing $500 million to buy a majority stake in Houston-based natural gas handling services company Valerus Compression Services, the compani...


peHUB

Och-Ziff Buyer of TPG’s Debenhams Stake

Posted on: October 29th, 2009

LONDON (Reuters) - Hedge fund Och-Ziff (OZM.N) has emerged as the buyer of TPG's [TPG.UL] stake in British department store chain Debenhams PLC (DEB.L) after the U.S. buyout firm made its exit from th...


peHUB

TPG Exits Department Store Myer in $2 Billion IPO

Posted on: October 29th, 2009

SYDNEY (Reuters) - Myer, Australia's largest department store chain, raised A$2.2 billion ($2 billion) in the nation's biggest IPO in two years, selling shares at the lower end of an indicative range,...


peHUB

TPG Sells Debenhams Stake to Hedge Fund

Posted on: October 28th, 2009

LONDON (Reuters) - U.S. buyout house TPG sold its stake in Debenhams Plc (DEB.L) to an unnamed hedge fund, a source familiar with the situation said on Wednesday, netting some 100 million pounds ($163...


peHUB

XOJet Raises $470 Million

Posted on: October 22nd, 2009

XOJet Inc., a private aviation company sponsored by TPG Capital, has secured $470 million in new funding. This includes $100 million in equity and a $370 million debt facility. TPG and Abu Dhabi-based...


peHUB

TPG To Return $20 Million in Fees

Posted on: October 22nd, 2009

NEW YORK (Reuters) - Private equity firm TPG Capital has told investors that it plans to return $20 million in fees paid on its $19 billion buyout fund, a source familiar with the situation said on W...


Dan Primack

TPG’s Kelvin Davis: Corus Assets Not “Ghost Towns”

Posted on: October 8th, 2009

The FDIC announced yesterday that the assets of failed Corus Bank will be sold to a private equity consortium that includes Starwood Capital Group, TPG Capital, WL Ross and Perry Capital. The firms wi...


peHUB

TPG, VTB Finalize Lenta Deal

Posted on: October 7th, 2009

MOSCOW (Reuters) - Private equity firm TPG Capital and the private equity arm of Russian state bank VTB (VTBR.MM) finalised the purchase of a 35.4 percent stake in Russian hypermarket chain Lenta, ban...


peHUB

Starwood, TPG Win Corus Bank Assets

Posted on: October 6th, 2009

NEW YORK (Reuters) - A group of investors led by Starwood Capital Group and private equity firm TPG have won the auction for assets of failed Corus Bank, in a deal that will see them invest about $554...


peHUB

TPG Completes Tender Offer for Armstrong World Shares

Posted on: October 5th, 2009

TPG Capital has completed a $98.1 million tender offer for shares in building products company Armstrong World Industries Inc. (NYSE: AWI), brining its ownership stake up to 12.2 percent. PRESS RE...


peHUB

TPG-Backed Wumart Nears $600 Million Deal for Rival

Posted on: September 21st, 2009

HONG KONG (Reuters) - Wumart Stores Inc (8277.HK), a major Chinese retailer backed by TPG Capital, is in the final stages of talks to acquire smaller rival Times Ltd (1832.HK) for about $600 million, ...


peHUB

TPG Exits Springer Auction

Posted on: September 18th, 2009

LONDON (Reuters) - U.S. private equity firm TPG Partners is out of the race to acquire a minority stake in German academic publisher Springer Science and Business Media [SPSBM.UL], two sources famili...


peHUB

Bonderman: TPG Has $30 Billion To Invest

Posted on: September 18th, 2009

SOCHI, Russia (Reuters) - One of the world's largest private equity funds TPG Capital currently has about $30 billion in uninvested capital and is looking for opportunities, its founding partner said...


peHUB

TPG-Backed Myer Plans $2.6 Billion IPO

Posted on: September 11th, 2009

MELBOURNE(Reuters) - U.S. private equity firm TPG Capital plans to list Myer, Australia's largest department store chain, on the local stock exchange this year in a deal that could be worth up to $2.6...


peHUB

Lenovo Shares Fall After PE Firms Sell Shares

Posted on: September 9th, 2009

HONG KONG (Reuters) - China's Lenovo (0992.HK), the world's No. 4 PC maker, fell as much as 7 percent on Wednesday after private equity funds, including TPG Inc and General Atlantic LLC, sold shares f...


peHUB

TPG Buys Into Russian Supermarket Chain

Posted on: September 7th, 2009

MOSCOW (Reuters) - Private equity firm TPG Capital and the private equity arm of Russian state bank VTB (VTBR.MM) bought a large stake in Russian hypermarket chain Lenta, banking sources told Reuters ...


peHUB

TPG Hires Bankers for Myer IPO

Posted on: August 24th, 2009

SYDNEY (Reuters) - Private equity firm TPG Capital has hired three banks to lead manage an IPO of Australia's top department store Myer Group, sources with direct knowledge told Reuters on Tuesday, va...


peHUB

MGM Replaces CEO, Hires Turnaround Expert

Posted on: August 18th, 2009

NEW YORK/LOS ANGELES (Reuters) - Metro-Goldwyn-Mayer Inc has replaced its chief executive with a team that includes turnaround expert Stephen Cooper and its production boss, Mary Parent, as the storie...


peHUB

TPG Buying 11% Stake in Chinese Retailer

Posted on: August 12th, 2009

HONG KONG (Reuters) - Wumart Stores Inc (8277.HK) said on Wednesday it will sell an 11 percent stake to U.S. private equity firm TPG and a Chinese investor for HK$1.65 billion ($213 million), the late...


peHUB

TPG Buying 20% of Armstrong World Industries

Posted on: August 11th, 2009

NEW YORK (Reuters) - Private equity firm TPG said on Tuesday that it would buy up to 20 percent of building products company Armstrong World Industries Inc. (AWI.N) TPG said it had agreed to buy 7...


peHUB

TPG Completes Midway Airlines Sale

Posted on: August 2nd, 2009

ATLANTA (Reuters) - Republic Airways Holdings (RJET.O), which faces competition from Southwest Airlines Co (LUV.N) as it seeks to acquire bankrupt Frontier Airlines (FRNTQ.PK), said on Friday that it ...


peHUB

TPG Among Adani Anchor Investors

Posted on: July 27th, 2009

MUMBAI (Reuters) - U.S. funds T Rowe Price (TROW.O) and TPG are among anchor investors for Indian utility Adani Power's initial public offer to raise as much as $623 million, two sources with knowledg...


peHUB

David Bonderman Part of New GM Board

Posted on: July 24th, 2009

DETROIT (Reuters) - General Motors Co, which emerged from bankruptcy earlier in July, on Thursday announced a small senior executive team to lead its attempted turnaround and the final members of its ...


peHUB

Nortel Selling Enterprise Unit to Avaya

Posted on: July 20th, 2009

TORONTO (Reuters) - Bankrupt telecom equipment maker Nortel Networks (NRTLQ.PK), once one of the world's biggest technology companies, said on Monday it has reached an agreement to sell its enterprise...


peHUB

TPG Selling Midwest Airlines to Republic Airways

Posted on: June 23rd, 2009

CHICAGO (Reuters) - Republic Airways Holding Inc.  said on Tuesday it would buy Midwest Airlines from private equity group TPG Capital for $6 million in cash and a $25 million note. In addition to...


peHUB

Looking To Exit Chinese Bank, TPG Heeds Earlier Lesson

Posted on: June 17th, 2009

HONG KONG/SHANGHAI (Reuters) - Chinese regulators are expected to approve a change of ownership at Shenzhen Development Bank (000001.SZ) that will allow U.S. private equity firm TPG to exit its bigges...


peHUB

Ping An To Buy Stake in TPG-Backed Shenzhen Bank

Posted on: June 12th, 2009

HONGKONG (Reuters) - China's Shenzhen Development Bank (000001.SZ) plans to raise at least 8 billion yuan ($1.17 billion) selling a stake to Ping An Insurance (Group) (2318.HK) via a private placement...


Erin Griffith

Junk Bonds: Investors Hungry For Risk or Just Hungry For Anything?

Posted on: June 11th, 2009

May was a big month for junk bonds: More than $15.9 billion worth of the high yield notes were issued, which was the highest monthly total since June 2008. That figure includes issuances from several...


peHUB

Carlyle, TPG Submit Bids for Asciano

Posted on: June 9th, 2009

SYDNEY (Reuters) - Australian rail and ports operator Asciano Ltd (AIO.AX) has received four final bids, including proposals from private equity group Carlyle Group CYL.UL, to either buy the whole com...


peHUB

TPG In Lead for Indian Retailer Pantaloon

Posted on: June 9th, 2009

MUMBAI (Reuters) - U.S.-based private equity firm TPG is leading the race to buy a less than 15 percent holding in Pantaloon Retail (India) Ltd (PART.BO), the Mint reported on Tuesday, citing two peo...


peHUB

Debenhams Plans £300 Million Offering

Posted on: June 3rd, 2009

LONDON, June 3 (Reuters) - British department stores group Debenhams (DEB.L) plans to raise over 300 million pounds ($499 million) on Thursday in a placing and open offer of new shares, two sources fa...


peHUB

Former TPG General Counsel Joins Southlake Equity

Posted on: May 26th, 2009

David A. Spuria joined middle market private equity firm Southlake Equity Group as Partner and General Counsel. Mr. Spuria was formerly the General Counsel of Fort Worth-based TPG Capital, one of the ...


peHUB

TPG Invests In Bonds of Chinese Shoe Co.

Posted on: May 26th, 2009

TPG has agreed to invest RMB 550 million ($80.19 million) in the convertible bonds of Daphne International Holdings Limited, a footwear company based in China. Press release: Daphne Internationa...


peHUB

PE-Backed Energy Future Posts Q1 Profit

Posted on: May 3rd, 2009

NEW YORK (Reuters) - Privately owned power company Energy Future Holdings Corp reported a $442 million quarterly profit on Friday, compared with a big loss a year earlier, a plus for the three private...


Erin Griffith

TPG Holds Numerous Honors, Including Biggest Fee-Payer

Posted on: April 27th, 2009

In addition to the TPG Capital’s recent crowning as the largest buyout firm of 2008, the firm can now add “top fee-payer” to its trophy case as well. According to data from the investment bank F...


peHUB

British Vita Lenders Approve Swap

Posted on: April 20th, 2009

LONDON (Reuters) - Lenders to UK chemicals group British Vita have agreed a debt for equity deal that will see its current owner TPG Capital and lenders inject extra cash into the company, a person c...


peHUB

TPG Offers Asia Fund Size Reduction

Posted on: April 14th, 2009

NEW YORK (Reuters) - TPG Capital has given investors in its latest Asian fund the option of reducing their commitments by up to 10 percent, or up to $420 million in total, the Texas-based private equi...


peHUB

Buyout Firms Vie for Barclays’ iShares

Posted on: March 21st, 2009

LONDON/NEW YORK (Reuters) - Private equity groups Hellman & Friedman, Bain Capital and TPG Capital have each shown interest in the iShares unit from British bank Barclays (BARC.L), sources familia...


Megan Davies

TPG Writes Down Latest Fund by 29%

Posted on: March 19th, 2009

NEW YORK (Reuters) - Texas-based private equity firm TPG wrote down the value of investments in its latest buyout fund by 29 percent at the end of 2008, according to a document obtained by Reuters on ...


peHUB

Aleris Wins $1 Billion in Bankruptcy Financing

Posted on: March 17th, 2009

NEW YORK (Reuters) - Aleris International Inc [TXPACA.UL] will get court approval for more than $1 billion in bankruptcy financing to keep the maker of aluminum rolled products operating as it restruc...


peHUB

Aleris Delays DIP Hearing as Lenders Flight

Posted on: March 11th, 2009

NEW YORK (Reuters) - Aleris International Inc TXPACA.UL, the bankrupt maker of aluminum rolled products, on Wednesday said it would delay a court hearing to approve its $1.075 billion bankruptcy loan ...


peHUB

FT: TPG In Fight Over Aleris Funding

Posted on: March 2nd, 2009

(Reuters) - U.S. private equity firm TPG is offering to provide bankruptcy financing for Aleris International Inc, a company that it owns, in a strategy that could put it in the position of being paid...


peHUB

TPG’s China Bank Stake May Return to Local Hands

Posted on: February 25th, 2009

SHANGHAI/HONG KONG (Reuters) - Shenzhen Development Bank (SDB) (000001.SZ), China's first foreign investor-controlled lender, will likely return to local ownership if U.S. private equity giant TPG Cap...


peHUB

Shenzhen Bank Shares Leap on Merger Report

Posted on: February 23rd, 2009

SHANGHAI (Reuters) - China Development Bank said it had no plan to buy Shenzhen Development Bank (000001.SZ), whose shares rose 10 percent on Monday after local media reported it might be bought by th...


peHUB

TPG-Backed Aleris Files for Chapter 11

Posted on: February 12th, 2009

NEW YORK (Reuters) - Aleris International Inc, producer of aluminum rolled products, extrusions and recycling, said on Thursday it filed for bankruptcy protection for its U.S. operations in U.S. Bankr...


Erin Griffith

LBO-Backed Bankruptcies 2009: One Month, 11 Down

Posted on: February 9th, 2009

Just over a month into 2009 and we've already seen 11 LBO-backed bankruptcies. That's up over the eight we had this time last year, but nowhere near the massive wave some were predicting. In fact, ...


peHUB

PE Firms Circle UK Insurer Just Retirement

Posted on: February 9th, 2009

Cinven, a pan-European buyout firm, is in pole position to buy AIM-listed insurer Just Retirement. Rival private equity firms are reported to be Cinven’s main competition with TPG Capital and Gen...


Erin Griffith

Only a Matter of Time for TPG’s Aleris

Posted on: February 6th, 2009

Aleris, the aerospace supplier backed by TPG Capital, is preparing to file for Chapter 11 bankruptcy protection, according to Debtwire. The company reportedly is looking for $400 million in DIP fin...


peHUB

TPG Cuts Size of Distressed Fund

Posted on: February 6th, 2009

(Reuters) - U.S. private equity firm TPG Capital is scaling back the $6 billion fund it raised to invest in distressed financial companies, the Financial Times reported. TPG told investors it has d...


peHUB

Report: TPG Breaks Off Stake Sale

Posted on: February 3rd, 2009

LONDON (Reuters) - U.S. private equity firm TPG has broken off talks to sell a stake in itself to investors including Kuwait's sovereign wealth fund and two California state pension funds, the Financi...


peHUB

TPG Pulls Out of ILFC Auction

Posted on: January 29th, 2009

NEW YORK (Reuters) - Private equity firm TPG Capital has dropped out of an auction for American International Group Inc's (AIG.N) aircraft leasing unit, International Lease Finance Corp, sources famil...


Dan Primack

Don’t Call It A Layoff: TPG (Barely) Thins Roster

Posted on: January 23rd, 2009

A handful of deal professionals have left TPG Capital over the past few weeks, peHUB has learned. We hear the moves were all one-off situations, rather than part of firm-wide layoffs (TPG has over 2...


peHUB

S&P Downgrades TPG-Backed Aleris

Posted on: January 7th, 2009

Standard & Poor's Ratings Services has lowered the corporate credit ratings of Aleris International Inc. from B to CCC+, and left its ratings on CreditWatch with “negative implications.” The B...


peHUB

Alltel Sale Set To Close Friday

Posted on: January 5th, 2009

Verizon Wireless said that it will close its $28.1 billion acquisition of rural mobile service provider Alltel Corp. on January 9. The deal includes the assumption of approximately $22.2 billion in de...


peHUB

China ForEx Burned by WaMu Collapse

Posted on: December 31st, 2008

HONG KONG (Reuters) - China's foreign exchange watchdog, the State Administration of Foreign Exchange, will cut back on overseas equity buys next year after suffering major losses on the collapse of U...


peHUB

Bonderman Resigns from WaMu Board

Posted on: December 15th, 2008

David Bonderman, a co-founding partner of TPG Capital, has resigned from the board of Washington Mutual Inc. TPG had led a $7 billion capital infusion into WaMu in April, but the company filed for...


peHUB

TPG Capital Selling BankThai

Posted on: November 25th, 2008

BANGKOK (Reuters) - U.S.-based private equity firm TPG Capital said on Tuesday it had agreed to sell its 37 percent stake in Thailand's BankThai to Malaysia's CIMB . That would increase CIMB's holding...


peHUB

TPG Eyes Debt Assets Sold by Hedge Funds

Posted on: November 14th, 2008

HONG KONG (Reuters) - David Bonderman, one of the the most influential figures in the U.S. private equity industry, said on Thursday his firm, buyout giant TPG Capital TPG.UL, wanted to buy debt asset...


peHUB

TPG To Invest Up to $150 Million into CIMB Bank

Posted on: November 3rd, 2008

KUALA LUMPUR, Nov 3 (Reuters) - U.S. private equity firm Texas Pacific Group Capital [TPG.UL] will invest up to $150 million in Malaysia's Bumiputra-Commerce Holdings Bhd (BCHB), the listed vehicle of...


peHUB

TPG Discusses Cash Infusion for ON Semiconductor Corp.

Posted on: October 30th, 2008

SAN FRANCISCO (Reuters) - ON Semiconductor Corp (ONNN.O: Quote, Profile, Research, Stock Buzz) has reached out to private equity for a cash infusion as it seeks alternatives to issuing debt to buy som...


peHUB

More Markdowns for Harrah’s Investors

Posted on: October 27th, 2008

NEW YORK (Reuters) - Private equity firms TPG and Apollo Management LP are going to have to mark down their investments in Harrah's Entertainment, as the casino giant grapples with a soft economy and ...


peHUB

TPG Still Pursuing Asciano

Posted on: October 22nd, 2008

MELBOURNE, Oct 22 (Reuters) - Asciano Ltd (AIO.AX: Quote, Profile, Research, Stock Buzz), Australia's biggest port and rail operator, said a private equity consortium led by TPG may seek further discu...


Erin Griffith

Mega-Buyout Firms Getting Stomach Aches From Gobbling Up Discounted Debt

Posted on: October 13th, 2008

Only Fools Rush In? In today's Wall Street Journal, Peter Lattman spelled out a fear I've been hearing on the tips of buyout pro tongues for a week or two now: All those leveraged loans gobbled up by ...


peHUB

Former US Air CEO Takes Cockpit at XOJet.

Posted on: October 6th, 2008

Oct 6 (Reuters) - XOJet Inc, a private aviation company backed by buyout firm TPG Inc, on Monday named former US Airways Group Inc (LCC.N) head David Siegel as its chief executive. Siegel, who was ...


Dan Primack

WaMu: The Worst Deal in Private Equity History?

Posted on: September 26th, 2008

Updated Before I get into this, three quick caveats: (1) I just left our Seattle Shindig, after consuming a plethora of Red Stripes; (2) I'm sitting at the airport awaiting a red-eye back to Boston; a...
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