TPG Capital, L.P. (formerly Texas Pacific Group, commonly referred as "TPG") is a private equity investment firm founded by David Bonderman, James Coulter and William S. Price III in 1992. TPG has offices in Fort Worth, San Francisco, London, Hong Kong, Mumbai, Tokyo, Melbourne and New York City. TPG focuses on turnarounds, management buyouts and leveraged recapitalizations. The firm's industry focuses include media and telecommunications, industrials, technology, travel/leisure, and health care. The firm is currently investing its fifth fund, TPG Partners V, L.P.^{[citation needed]} Private equity is a broad term that refers to any type of equity investment in an asset in which the equity is not freely tradable on a public stock market. ... David Bonderman (1942 - ) is a founder of Texas Pacific Group (TPG) and its Asian affiliate, Newbridge Capital. ... Fort Worth is the sixth-largest city in the state of Texas, located about 30 miles west of Dallas on the West Fork Trinity River and forming part of the Dallas/Fort Worth Metroplex. ... This page is a candidate for speedy deletion. ... This article is about the capital of England and the United Kingdom. ... , “Bombay” redirects here. ... Tokyo ), the common English name for the Tokyo Metropolis ), is one of the 47 prefectures of Japan and, unique among the prefectures, provides certain municipal services characteristic of a city. ... This article is about the Australian city; the name may also refer to City of Melbourne or Melbourne city centre. ... New York, New York and NYC redirect here. ... Jargon used in the chemical manufacturing and petroleum refining industries. ... A management buyout (MBO) is a form of acquisition where a companys existing managers acquire a large part or all of the company. ... In corporate finance, a leveraged recapitalization is a strategy often used to fend off a hostile acquisition. ...

TPG is among the "megafunds" in the private equity industry as well as one of the four most elite players (TPG, The Blackstone Group, KKR, and The Carlyle Group). TPG is also known for its deep operating capability and consistently high returns over the course of its existence. The Blackstone Group is a private investment and advisory firm founded in 1985 by Peter G. Peterson and Stephen A. Schwarzman. ... Kohlberg Kravis Roberts & Co (commonly referred to as KKR) is a New York City based private equity firm that focuses primarily on late stage leveraged buyouts. ... The Carlyle Group is a Washington, DC based global private equity investment firm with more than $18 billion of equity capital. ...

Euromoney named the firm Best Global Private Equity House in 2006, a year in which it was involved in deals that comprised a record $101 billion.

Notable investments

Notable TPG investments (proposed and actual) have included,^[1][2] in chronological order:

• 1993 – TPG founded later in the year after Bonderman acquires bankrupt Continental Airlines
• 1996 – TPG invests in AT&T Paradyne, Beringer Wine, Ducati Motorcycles, and Del Monte Foods.
• 1997 – J. Crew Group.
• 1998 – ZiLOG and Oxford Health Plans.
• 1999 – Piaggio S.p.A, Bally International (including Bally Shoe), and ON Semiconductor.
• 2000 – Seagate Technology, Petco Animal Supplies, and the controversial acquisition of Gemplus SA.
• 2001 – Telenor Media for $600m, and MEMC Electronic Materials^[3]
• 2002 – the leveraged buyout of Burger King in July with Bain Capital and Goldman Sachs Capital Partners
• 2003 – a proposal to buy Portland General Electric from Enron on November 17, 2003. However, concerns about debt and local politics led to Oregon's Public Utilities Commission regulators to deny permission for the purchase March 10, 2005.^{[citation needed]}
• 2005 – acquistion of MGM and the acquisition of high-end retailer Neiman Marcus.
• In the year 2006:
  • June – with the help of children's television mogul Haim Saban, the firm won the bid for Univision, the largest Spanish-language media company in the United States.
  • November – TPG was reported to have formed Airline Partners Australia, a consortium with Australia's Macquarie Bank, with the aim of purchasing Qantas.^[4]
  • On December 1, 2006, it was announced Texas Pacific Group and Kohlberg Kravis Roberts have been exploring the possibility of a record $100 billion leveraged buyout of the nation's second-largest retailer Home Depot. ^[5]
  • On December 19, 2006, Harrah's Entertainment announced that its board of directors voted to accept a buyout offer from Apollo Management Group and Texas Pacific Group for $17 billion, or $90-per-share.^[6]
• February 2007, Texas Pacific Group and Kohlberg Kravis Roberts announce intention to acquire TXU for about $45 billion, including debt, in the largest-ever leveraged buyout.^[7] The deal is also notable for a drastic change in environmental policy for the energy giant, in terms of its carbon emissions from coal power plants and funding alternative energy.^[8]
• March 26 2007 Agreed to Purchase HealthSouth Corporation's Ambulatory Surgery Division. ^[9]
• May 20, 2007 Agreed to partner with Goldman Sachs and purchase Alltel Wireless for $27 Billion.
• June 5, 2007 Agreed to partner with Silver Lake Partners to purchase Avaya for $8 Billion.
• August 12, 2007 Agreed to purchase Midwest Airlines ending the hostile takeover attempt by AirTran Airways. Northwest Airlines also invested in this purchase as a passive investor.
• August 14, 2007 Increased its offer to purchase Midwest after a late attempt by Airtran to increase its bid for Midwest.

Continental Airlines (NYSE: CAL) is a US certificated air carrier. ... Ducati Motor Holding (NYSE: DMH) is an Italian motorcycle manufacturer located in Bologna. ... Del Monte logo Del Monte Foods (NYSE: DLM) is an American food production and distribution company based in San Francisco, California. ... J.Crew is a fully integrated, multi-channel retailer specializing in mens, womens and childrens apparel and accessories. ... Zilog, often seen as ZiLOG, is a manufacturer of 8-bit, 16-bit, 24-bit, and 32-bit CPUs, and is most famous for its Intel 8080-compatible Z80 series. ... Piaggio is a company based in Italy that produces cars, motorcycles, scooters and aeroplanes. ... The Bally Shoe company was founded as Bally & Co in 1851 by Carl Franz Bally (1821-1899) and his brother Fritz in the basement of their family home in Schönenwerd in the Canton of Solothurn, Switzerland. ... ON Semiconductor (NASDAQ: ONNN), a leading supplier of power management solutions, was recapitalized and established as an independent company on August 4, 1999. ... Seagate Technology (NYSE: STX) is a major American manufacturer of hard drives, founded in 1979 and based in Scotts Valley, California. ... PETCO is a leading chain of retail stores that offers pet supplies and services such as grooming and dog training. ... Luxemburg-based Gemplus International SA was a leading provider of smart cards and related technologies, until its June 2, 2006 merger with rival Axalto; the combined entity is known as Gemalto. ... A leveraged buyout (or LBO, or highly-leveraged transaction (HLT), or bootstrap transaction) occurs when a financial sponsor gains control of a majority of a target companys equity through the use of borrowed money or debt. ... Burger King (often abbreviated to BK) is a large international chain of fast food restaurants, predominantly selling burgers, french fries, soft drinks, desserts, and various sandwiches. ... Bain Capital LLC is a Boston, Massachusetts-based private equity firm founded in 1984 by Mitt Romney, the late Governor of Massachusetts, and two other partners from the consulting firm Bain & Company: T. Coleman Andrews III and Eric Kriss. ... The Goldman Sachs Group, Inc. ... Portland General Electric (PGE) is an investor-owned electrical utility that distributes electricity to customers in parts of Portland, Oregon, as well as parts of Multnomah, Clackamas, Marion, Yamhill, Washington, and Polk counties - half of the inhabitants of Oregon. ... Enron Corporation (Former NYSE ticker symbol: ENE) was an American energy company based in Houston, Texas. ... 17 November is also the name of a Marxist group in Greece, coinciding with the anniversary of the Athens Polytechnic uprising. ... Year 2003 (MMIII) was a common year starting on Wednesday of the Gregorian calendar. ... The Minnesota Public Utilities Commission (PUC) is the consumer protection agency in the U.S. state of Minnesota charged with the regulation of public utilities such as electric and telephone service. ... March 10 is the 69th day of the year (70th in leap years) in the Gregorian calendar. ... Year 2005 (MMV) was a common year starting on Saturday (link displays full calendar) of the Gregorian calendar. ... MGM logo Metro-Goldwyn-Mayer or MGM, is a large media company, involved primarily in the production and distribution of cinema and television programs. ... Categories: Stub | Retail companies of the United States ... Haim Saban Haim Saban (born 15 October 1944 in Alexandria, Egypt) is a television and media proprietor. ... Univision is a Spanish-language television network in the United States. ... Airline Partners Australia (APA) is a consortium that made a AU$5. ... Macquarie Bank Limited is an Australian merchant bank and financial services group, providing a broad range of products and services to investors, corporations and government. ... Qantas (Qantas Airways Limited) (pronounced ) is the name and callsign of the national airline of Australia. ... is the 335th day of the year (336th in leap years) in the Gregorian calendar. ... Year 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ... Kohlberg Kravis Roberts & Co (commonly referred to as KKR) is a New York City-based private equity firm that focuses primarily on late stage leveraged buyouts. ... The Home Depot (NYSE: HD) is an American retailer of home improvement and construction products. ... is the 353rd day of the year (354th in leap years) in the Gregorian calendar. ... Year 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ... The company known as Harrahs Entertainment was founded on October 30, 1937 as a small bingo parlor in Reno, Nevada operated by William F. Harrah. ... Kohlberg Kravis Roberts & Co (commonly referred to as KKR) is a New York City-based private equity firm that focuses primarily on late stage leveraged buyouts. ... TXU (formerly TU Electric) NYSE: TXU is an energy company headquartered in Energy Plaza in Dallas, Texas. ... A leveraged buyout (or LBO, or highly-leveraged transaction (HLT), or bootstrap transaction) occurs when a financial sponsor gains control of a majority of a target companys equity through the use of borrowed money or debt. ... Environmental policy refers to the laws, regulations, and other policy mechanisms concerning environmental issues and sustainability. ... Top: Increasing atmospheric CO2 levels as measured in the atmosphere and ice cores. ... Mohave Generating Station, a 1,580 MW coal power plant near Laughlin, Nevada A fossil fuel power plant is an energy conversion center that combusts fossil fuels to produce electricity, designed on a large scale for continuous operation. ... Future energy development face great challenges due to an increasing world population, demands for higher standards of living, demands for less pollution and a much discussed end to fossil fuels. ... HealthSouth Corporation NYSE: HRC, based in Birmingham, Alabama, is the USs largest healthcare services provider. ... The Goldman Sachs Group, Inc. ... Alltel (NYSE: AT) is an American telecommunications company with headquarters in Little Rock, Arkansas. ... Silver Lake Partners is a notable American private equity firm founded in 1999 and headquartered on Sand Hill Road in Menlo Park, California. ... Avaya Inc. ... Midwest Airlines Boeing 717 taxiing for departure at John Wayne Airport (Santa Ana, California, USA) in February 2004 For the Egyptian airline see: Midwest Airlines (Egypt) Midwest Airlines is an American scheduled passenger airline based in Milwaukee, Wisconsin, operating from General Mitchell International Airport. ... AirTran Airways is a low-cost airline that is a Delaware corporation with headquarters in Orlando, Florida, USA and is a subsidiary of AirTran Holdings. ... Northwest Airlines (NYSE: NWA), occasionally known as NWA, is an American airline headquartered in Eagan, Minnesota, near Minneapolis-St. ...

Recognitions

During 2005 and 2006, Texas Pacific Group was recognized by several members of the media for its performance. The firm was called "Firm of the Year" by Buyouts Magazine^{[citation needed]}; "Best Global Firm of the Year" by Euromoney Magazine^{[citation needed]}; "North American Large Cap Private Equity Firm of the Year" by Global Finance Magazine^{[citation needed]}; and TPG-Newbridge was named "Best Firm of the Year" by the Asia Venture Forum.^{[citation needed]}

References

1. ^ TPG Profile at Yahoo.com
2. ^ http://www.fundinguniverse.com/company-histories/Texas-Pacific-Group-Inc-Company-History.html
3. ^ http://www.businessweek.com/magazine/content/01_43/b3754116.htm
4. ^ "Unions concerned about bid for Qantas", The Age, November 22, 2006.
5. ^ http://dallas.bizjournals.com/dallas/stories/2006/11/27/daily34.html
6. ^ "Harrah's Entertainment board agrees to $90 a share buyout bid", Las Vegas Sun, December 19, 2006.
7. ^ "KKR, Texas Pacific-led group to buy TXU Corp", Reuters, Feb 26, 2007. 
8. ^ DAVID KOENIG. "TXU's $32B takeover by KKR-led group draws only muted criticism", Houston Chronicle, Feb 26, 2007. 
9. ^ http://www.cnbc.com/id/17797350]

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External links

• TPG - Texas Pacific Group Official Site
• TPG Ventures (venture capital affiliate)