Like Kentucky Fried Chicken before it, Texas Pacific Group has officially dropped its regional moniker in favor of an acronym. The firm will heretofore be known simply as TPG, which is what lots of folks referred to it as anyway (at least in second references).
The move does not have any operational impact, as TPG will maintain its headquarters in Fort Worth, Texas. Instead, the name change was made to reflect the fact that most TPG deals are now done outside of the state – including global deals in such locales as Asia, Australia and Europe.
But the name change is not without a bit of irony. After all, it comes just days after TPG announced its participation in the proposed $45 billion buyout for TXU, which would be the largest LBO in history. What is TXU? Just the largest energy provider in Texas.