TPG on Thursday filed to go public with the SEC by way of a proposed initial public offering of its Class A common stock.
TPG, an alternative investment manager with $109 billion in assets under management, plans to list its common stock on Nasdaq under the symbol "TPG."
TPG reported pro forma GAAP net income of $1.8 billion in the nine months ended Sept. 30 and $616 million for the year ended Dec. 31, 2020. It's GAAP net book value is $4.2 billion as of Sept. 30.
TPG also reported management fees deceased by 3.3% to $520 million in the nine months ended Sept. 30, compared with $538 million in the nine months ended Sept. 30, 2020. Transaction and monitoring fees were up 115% to $66.4 million in the first nine months of 2021, compared with the year-earlier period.
TPG plans to use some of the money raised in the IPO for general corporate purposes including growing its existing business and/or expanding into complementary new lines of business or geographic markets, the SEC filing said.
TPG has five businesses: TPG Capital, investing in large-cap buyouts; TPG Growth, making growth equity investments; TPG Impact, investing in companies addressing global societal challenges; TPG Real Estate; and TPG Market Solutions, making public market investments, among other things.
TPG declined to comment. It did not disclose how many shares it plans to offer or a share price range.