Pursuits
TPG Said to Write Down J. Crew Stake by 84% as Revival Hopes Dim
An employee on a ladder arranges shirts at J. Crew's men's store in the Central district of Hong Kong.
Photographer: Brent Lewin/BloombergThis article is for subscribers only.
David Bonderman’s TPG Capital cut the value of its stake in struggling clothing retailer J. Crew Group Inc. by 84 percent at the end of 2015.
The private equity firm, which led a 2011 leveraged buyout of the company, told investors that its $478.6 million equity holding in J. Crew was lowered to $76 million, according to documents obtained by Bloomberg.