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Jan 142022

TPG kicks off the IPO year

Private equity firm TPG is the first big company to test the 2022 IPO waters, and investors happily ride the waves of gains.

  • The company hit a $10bn valuation in its first day of trading, making it the fifth most valuable PE firm in the U.S. after shares opened 12% above its offering price of $29.50 and closed at $34.
  • TPG is a 30-year old company with a stake in 208 companies worth $109bn, and similar firms like Blackstone (BX) and KKR (KKR) have been raving public successes.
  • It could have gone either way. Rn, 70% of 2021 IPOs are trading below their offering price, and the Fed is more hawkish than ever – so this seems to have been taken as a good sign for other IPOs wanting to jump in.
Illustration by TradingView

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