TPG shares jumped almost 12% yesterday on the US Private equity giant’s first day of trading.
The group valuation surged to $10bn. It’s the biggest floatation in the US so far this year. TPG has almost $109 billion in assets and has investments in AirBnb, Spotify and many other companies.
“We will continue to build on the business in the way we have historically – organic growth, seeing opportunities and building into it,” said CEO Jon Winkelried.
“Our experience has been that if you choose the right company in the right sectors, they will grow through the market perturbations that you see at times like these.”
The group was founded by David Bonderman and Jim Coulter.