TPG to Weigh Sale of Stake in $3 Billion Insurer Singlife
- US buyout firm working with financial adviser on possible sale
- Japan’s Sumitomo Life is also a major shareholder in Singlife
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US private equity giant TPG Inc. is exploring a sale of its stake in Singapore Life Holdings Pte in a deal that could value the insurer known as Singlife at about S$4 billion ($3 billion), according to people with knowledge of the matter.
TPG, which owns a 35% stake in closely held Singlife, is working with a financial adviser on the potential divestment, the people said, asking not to be identified because the matter is private.