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Friday, January 22, 2021

Unit of Fort Worth-based private equity firm to go public

TPG Specialty Lending, a unit of Fort Worth-based private equity firm TPG Capital, says it will go public this week with an offering valued at up to $119 million.

TPG Specialty will go public by issuing 7 million shares at between $16 and $17, as well as issue another million shares if demand is sufficient, according to its filing with the Securities and Exchange Commission. TPG Specialty Lending also plans to sell $50 million of its common stock to certain existing investors, including TSL Advisers, through a separate private placement. The firm will use proceeds to pay down debt.

TPG Specialty will trade on the New York Stock Exchange under the ticker symbol TSLX. J.P. Morgan; BofA Merrill Lynch; Goldman, Sachs & Co.; Citigroup; Wells Fargo Securities and Barclays are acting as joint book-running managers for this offering. TPG Capital BD LLC; Janney Montgomery Scott and JMP Securities are acting as co-managers.  

Robert Francis
Robert is a Fort Worth native and longtime editor of the Fort Worth Business Press. He is a former president of the local Society of Professional Journalists and was a freelancer for a variety of newspapers, weeklies and magazines, including American Way, BrandWeek and InformatonWeek. A graduate of TCU, Robert has held a variety of writing and editing positions at publications such as the Grand Prairie Daily News and InfoWorld. He is also a musician and playwright.

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