TPG files for public offering as IPO market breaks records

Fort Worth and San Francisco-based TPG, a leading private equity firm, announced Dec. 16 what it has been hinting for several months – it has filed to go public.

The firm said it has publicly filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission relating to a proposed initial public offering of its Class A common stock. TPG said it intends to apply to list its common stock on NASDAQ under the symbol “TPG”.

TPG’s filing comes as the global IPO market has broken records by IPO volume and proceeds consistently into the fourth quarter, according to the 2021 EY Global IPO Trends Report.  Overall, 2021 saw a total of 2,388 deals raising US$453.3b in proceeds, a 64% and 67% respective increase YOY. .

J.P. Morgan Securities LLC, Goldman Sachs & Co. LLC, Morgan Stanley and TPG Capital BD LLC are acting as joint lead book-running managers for the proposed offering. BofA Securities, Citigroup, Deutsche Bank Securities, Evercore ISI, UBS Investment Bank, Wells Fargo Securities, BMO Capital Markets and Barclays are also acting as joint book-running managers, and Mizuho Securities, Keefe Bruyette & Woods, a Stifel Company, MUFG, SMBC Nikko, AmeriVet Securities, Blaylock Van, LLC, C.L. King & Associates, Drexel Hamilton, R. Seelaus & Co., LLC, Ramirez & Co., Inc., and Siebert Williams Shank are acting as co-managers for the offering.