3 Firms Steer PE Giant TPG's $1B IPO

By Charlie Innis (January 13, 2022, 2:01 PM EST) -- Private equity firm TPG Inc. began trading on the Nasdaq on Thursday after raising $1 billion in an initial public offering, advised by Weil Gotshal & Manges LLP with support from Davis Polk & Wardwell LLP and underwriters' counsel Ropes & Gray LLP.

TPG priced its IPO at $29.50 per share of common stock, the midpoint of its expected range of $28 to $31 a share, and offered 28.3 million shares. An undisclosed strategic investor also sold 5.6 million shares, according to an announcement.

The private equity firm expects to grab $825.2 million in net proceeds and plans to use about...

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