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TPG Growth virtually writes off a legacy India bet with deep haircut
VCCircle · 1y ago
Medial
TPG Growth, the growth capital investment arm of TPG, has decided to write off a legacy investment in India. The private equity firm had made a $30 million investment in a company over a decade ago but has now signed off from the deal. This move indicates a substantial loss for TPG Growth in relation to its initial investment.
New Relic agrees to go private in $6.5B all-cash deal
TechCrunch · 2y ago
Medial
San Francisco-based observability software company New Relic is going private in a $6.5 billion all-cash deal with private equity firms TPG and Francisco Partners. The deal includes a 45-day "go-shop" period for other qualified bidders. New Relic provides real-time monitoring for web and mobile apps and has shown steady growth in recent quarters. The move comes amidst a growing observability market, with an estimated worth of $4.1 billion by 2028.
Grapevine: PEs eye India's largest cardiac stent maker; O2 Power race heats up
VCCircle · 11m ago
Medial
Private equity firms such as KKR, TPG Capital, and Apax Partners are considering investing in India's largest cardiac stent maker, Sahajanand Medical Technologies (SMT). The evaluation values SMT at around Rs 3,500-4,000 crore. Another global private equity firm and Mumbai-based pharmaceutical company, Alkem Laboratories, are also reportedly interested in the deal. The potential investment highlights the growing interest in the healthcare sector in India.
TPG scripting $500-mn exit from India portfolio
VCCircle · 1y ago Medial
Private equity firm TPG has sold a portion of its India portfolio for $500 million. The move comes after TPG had been actively investing in India and successfully exiting investments last year. The firm began the new year by injecting capital into an existing portfolio company. TPG's recent sale highlights their commitment to managing their investments and generating liquidity.
Former TPG NewQuest exec floats PE fund for growth stage bets
VCCircle · 10m ago
Medial
A former executive of TPG NewQuest, a part of private equity firm TPG, has launched a new firm to invest in startups, growth stage companies, and public firms. TPG NewQuest has previously invested in companies like ShadowFax, Halonix Technologies, and U Gro Capital. The new firm aims to make strategic investments in promising ventures.
TPG Growth moves from dream returns to poor exit with India bet
VCCircle · 1y ago Medial
TPG Growth, the mid-market and growth equity platform of private equity firm TPG, has made a disappointing exit from its investment in an Indian company. After initially reducing its stake in the company two years ago, TPG has now sold nearly half of its remaining holding. This marks a significant setback for TPG Growth, which had high hopes for its investment in India but is now facing poor returns.
Grapevine: TPG, KKR eye CVC’s stakes in hospital chain; Verlinvest plans Sula exit
VCCircle · 1y ago
Medial
Private equity firms EQT, TPG Capital, and KKR are considering acquiring CVC Capital's controlling stake in the cancer hospital chain Healthcare Global Enterprises (HCG). The deal may also include an open offer for an additional 26% stake in the company.
How did TPG fare in latest exit from India manufacturing portfolio?
VCCircle · 1y ago Medial
Private equity firm TPG has made another exit from its India manufacturing portfolio, as it aims to generate returns from its Indian investments. TPG was highly active in India in 2023 and has been successful in exiting its investments. Further details of TPG's latest liquidity move have not been provided.
TPG Growth makes another neat India exit move in busy start to new year
VCCircle · 5m ago Medial
TPG Growth, a private equity firm, has begun the new year by making another strategic exit from its Indian portfolio. Known as one of the most active alternative investment firms in India, TPG had successfully completed several exits in the previous year. This recent move indicates the firm's ongoing strategy to unlock liquidity from its investments, signaling a focused approach to managing and optimizing its portfolio assets in the Indian market.
TPG, HBM retune India exit plan in benchmark-beating move
VCCircle · 7m ago Medial
US private equity firm TPG and Swiss healthcare investor HBM Partners have altered their exit strategy for an Indian investment in a move that is expected to outperform traditional benchmarks set by alternative investment firms. Rather than completely exiting their positions, TPG and HBM will sell a portion of their stakes in the company. The revised plan is aimed at maximizing returns in the South Asian market.
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