TPG focuses on turnarounds, management-led buyouts and recapitalizations. The firm's industry focuses include media and telecommunications, industrials, technology and health care. The firm is currently investing its fourth fund, TPG Partners IV, L.P., which closed in March 2003 with $5.3 billion in capital commitments.
Recent notable transactions include the LBO of Burger King in July 2002 with Bain Capital and Goldman Sachs Capital Partners, and the acquisition of MGM in 2004 with Sony Corp. and other private equity firms.
The Texas and Pacific Railway Company (known as the TandP) was created by federal charter in 1871 with the purpose of building a southern transcontinental railroad between Marshall, Texas and San Diego, California.
Missouri Pacific gained majority ownership of the Texas and Pacific Railway's stock in 1928 but allowed it to continue operation as a separate entity until they were eventually merged on October 15, 1976.
The Texas and Pacific was unable to finance construction to San Diego, California, and as a result the Southern Pacific was able to build from California to Sierra Blanca, Texas.
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