TPG kicks off the IPO yearPrivate 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.
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