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TPG Inc.
TPG Inc., previously known as Texas Pacific Group and TPG Capital, is an American private equity firm based in Fort Worth, Texas. TPG manages investment funds in growth capital, venture capital, public equity, and debt investments. The firm invests in industries including consumer/retail, media and telecommunications, industrials, technology, travel, leisure, and health care.
Texas Pacific Group, later TPG Capital, was founded in 1992 by David Bonderman, James Coulter and William S. Price III. Prior to founding TPG, Bonderman and Coulter had worked for Robert Bass, making leveraged buyout investments during the 1980s.
In 1993, Coulter and Bonderman partnered with GE Capital vice president of strategic planning and business development William S. Price III to complete the buyout of Continental Airlines.
In 1994, TPG, Blum Capital and ACON Investments created Newbridge Capital, a joint-venture to invest in emerging markets, particularly in Asia and, later, in Latin America.
In June 1996, TPG acquired the AT&T Paradyne unit, a multimedia communications business, from Lucent Technologies for $175 million. Also in 1996,[citation needed] TPG invested in Beringer Wine, Ducati Motorcycles and Del Monte Foods.
In 1997, TPG raised over $2.5 billion for its second private equity fund. TPG's most notable investment that year was its takeover of the retailer J. Crew, acquiring an 88% stake for approximately $500 million; the investment struggled due to the high purchase price paid relative to the company's earnings. The company was able to complete a turnaround, beginning in 2002, and to complete an IPO in 2006.
In 1998, TPG led a minority investment in Oxford Health Plans. TPG and its co-investors invested $350 million in a convertible preferred stock that can be converted into 22.1% of Oxford shareholding. The company completed a buyback of TPG's PIPE convertible in 2000, which would ultimately be acquired by UnitedHealth Group, in 2004.
In 1999, TPG invested in Piaggio S.p.A., Bally International (including Bally Shoe), and ON Semiconductor. T3 Partners was started in 2001 to invest alongside the main fund in technology-oriented investments.[citation needed]
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TPG Inc.
TPG Inc., previously known as Texas Pacific Group and TPG Capital, is an American private equity firm based in Fort Worth, Texas. TPG manages investment funds in growth capital, venture capital, public equity, and debt investments. The firm invests in industries including consumer/retail, media and telecommunications, industrials, technology, travel, leisure, and health care.
Texas Pacific Group, later TPG Capital, was founded in 1992 by David Bonderman, James Coulter and William S. Price III. Prior to founding TPG, Bonderman and Coulter had worked for Robert Bass, making leveraged buyout investments during the 1980s.
In 1993, Coulter and Bonderman partnered with GE Capital vice president of strategic planning and business development William S. Price III to complete the buyout of Continental Airlines.
In 1994, TPG, Blum Capital and ACON Investments created Newbridge Capital, a joint-venture to invest in emerging markets, particularly in Asia and, later, in Latin America.
In June 1996, TPG acquired the AT&T Paradyne unit, a multimedia communications business, from Lucent Technologies for $175 million. Also in 1996,[citation needed] TPG invested in Beringer Wine, Ducati Motorcycles and Del Monte Foods.
In 1997, TPG raised over $2.5 billion for its second private equity fund. TPG's most notable investment that year was its takeover of the retailer J. Crew, acquiring an 88% stake for approximately $500 million; the investment struggled due to the high purchase price paid relative to the company's earnings. The company was able to complete a turnaround, beginning in 2002, and to complete an IPO in 2006.
In 1998, TPG led a minority investment in Oxford Health Plans. TPG and its co-investors invested $350 million in a convertible preferred stock that can be converted into 22.1% of Oxford shareholding. The company completed a buyback of TPG's PIPE convertible in 2000, which would ultimately be acquired by UnitedHealth Group, in 2004.
In 1999, TPG invested in Piaggio S.p.A., Bally International (including Bally Shoe), and ON Semiconductor. T3 Partners was started in 2001 to invest alongside the main fund in technology-oriented investments.[citation needed]
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