IPO
TPG hits $10B valuation after shares climb 15% in market debut
January 13, 2022
TPG hit a valuation of around $10 billion and saw its stock climb over 15% in its long-awaited Nasdaq debut.
The Fort Worth- and San Francisco-based firm raised just over $1 billion in its offering, selling 33.9 million shares at $29.50 apiece and valuing the firm at roughly $9 billion. TPG's stock opened at $33 a share in the debut and closed at $34 a share.
Public PE firms have considerably outperformed the S&P 500 in recent years, providing ripe conditions for new listings. While the S&P grew about 115% over the past five years, Blackstone's stock climbed 445% during the same period. KKR's rose 409%, while Apollo Global Management and The Carlyle Group's notched 290% and 268%, respectively.
TPG manages $109 billion in assets, holds over $32 billion in dry powder and oversees over 280 portfolio companies.
Featured image by Matteo Colombo/Getty Images
The Fort Worth- and San Francisco-based firm raised just over $1 billion in its offering, selling 33.9 million shares at $29.50 apiece and valuing the firm at roughly $9 billion. TPG's stock opened at $33 a share in the debut and closed at $34 a share.
Public PE firms have considerably outperformed the S&P 500 in recent years, providing ripe conditions for new listings. While the S&P grew about 115% over the past five years, Blackstone's stock climbed 445% during the same period. KKR's rose 409%, while Apollo Global Management and The Carlyle Group's notched 290% and 268%, respectively.
TPG manages $109 billion in assets, holds over $32 billion in dry powder and oversees over 280 portfolio companies.
Related read: TPG's long-awaited IPO launches during fruitful time for PE firms
Featured image by Matteo Colombo/Getty Images
Comments:
Thanks for commenting
Our team will review your remarks prior to publishing.
Please check back soon to see them live.