Hints and tips:
...Meanwhile, listed groups including TPG, Brookfield and KKR have in recent years struck ambitious acquisitions....
...CLSA’s John Seagrim suggested in a recent note to clients that “in theory, Toyota could launch a 31.5 per cent premium bid in Toyota shares . . . for [TIC] and it could pay for the entire acquisition in...
...TPG, CAA and Artemis declined to comment on financial details....
...Buyout groups are betting they can grow these businesses through acquisitions and turn many into companies large enough to eventually be listed on public markets....
...TPG, which went public in 2022, recently used its stock to help finance the $2.7bn purchase of credit manager Angelo Gordon....
...Then 3G Capital went on an acquisition spree....
...The deal with Artémis will provide a large windfall to TPG and the continuation fund. TPG is selling its controlling stake in full....
...TPG declined to comment....
...TPG, CAA and Artémis declined to comment on financial details....
...Despite the resistance, TD Cowen analyst Jaret Seiberg wrote in a note to clients that the initial political response had so far been “less negative than expected”....
...TPG Growth has named Aaron Matto as a partner in San Francisco. He joins from technology-focused private equity firm True Wind Capital....
...This article has been amended since first publication due to an error in a Stifel analyst note....
...The principal ones hold notes for a $1.2bn dollar-denominated term loan it took out in 2021 and has defaulted on, embroiling it in lawsuits and countersuits across the US....
...And to her credit, as Lex notes, Vodafone’s newish boss Margherita Della Valle has been listening. . . . Which brings DD to the second Spanish telecoms deal announced on Tuesday....
...But a few notable investors are set to enter 2024 on a high note thanks to corporate buyers flush with cash....
...Bondholders, which besides Apollo include Ares and Pimco, are set to swap their old notes for new notes for about 76 cents on the dollar....
...Days earlier, TPG struck a $2.7bn deal to buy privately held distressed debt giant Angelo Gordon, underscoring a wave of consolidation in private markets....
...News round-up ‘Rumours and misconceptions’ to blame for SVB failure, claims ex-CEO (FT) EU clears Microsoft-Activision deal despite UK’s decision to block acquisition (FT) TPG pushes into credit investing...
...One person close to the company’s financials notes that while the TPG preferred stock investment valued Vice at a total of $5.7bn, such a number was largely contrived for marketing purposes....
...Henry Cheng’s acquisition of the company was “brilliant move number one”, says James McBride, CEO of Nihi hotels and an industry doyen of almost 40 years....
...A $1bn of Athene’s own equity stands up the acquisition and writing of $12bn of annuities....
...TPG has appointed Asia managing partner Ganen Sarvananthan to lead the firm’s Middle East business....
...And by expanding its AUM, Lex notes, its valuation will be higher for its future listing....
...(Side note: the bank also made cringey music videos, Alphaville has discovered.)...
...The notes, which will mature in September 2029, will yield about 14 per cent. The sale generated a loss of about $675mn for the banks....
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