Since it was founded by David Bonderman and Jim Coulter in 1992, TPG Capital has grown to become a major force in the buyout industry, raising some of biggest private equity funds ever (including one that nearly reached $20 billion) and carrying out some of the highest-profile takeovers in history.
But unlike rivals such as Blackstone, KKR and Apollo Global Management, TPG has never gone public, instead remaining a partnership and eschewing the chance to find new shareholders on the stock market.
And that’s the way Coulter and Jon Winkelried, who succeeded Bonderman as co-CEO in 2015, plan to keep it. After considering its alternatives, the buyout shop will not go public in the immediate future and will instead continue to operate as a private partnership, according to Bloomberg. Rather than selling shares directly to the public, the firm will reportedly examine other financing options, including the potential sale of a stake in itself to private investors.