TPG Capital, a U.S private-equity firm with about $55 billion in assets under management, would consider an initial public offering, according to founding partner David Bonderman.
TPG hasn’t ruled out possibility of an IPO for the Forth Worth, Texas-based business at some point, though it isn’t something the firm would think too hard about, Bonderman, 71, said in response to a question at the SuperReturn conference in Berlin today.
The company is one of the world’s largest private-equity firms to remain closely held following the IPOs of competitors including Blackstone Group LP (BX), Carlyle Group LP (CG) and KKR & Co LP in the past seven years. Blackstone, which sold shares to the public before the 2008 financial crisis, more than doubled in 2013, lifting the wealth of Chairman Stephen Schwarzman by $3.7 billion.
TPG, which acquired stakes in companies including Denmark’s Saxo Bank A/S and retailer J Crew Group Inc., sold 5 percent of its management company to the Kuwait Investment Authority and the Government of Singapore Investment Corp. for an undisclosed fee in 2011. The proceeds were aimed at financing expansion into new business lines and emerging markets.
TPG this month started to raise a real estate fund, TPGRE II, with a $2 billion target.
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