TPG opens up healthcare holdings to public

摘要

TPG Group, one of the few large private equity firms that continues to operate as a pure partnership, is accelerating efforts to cash out of its healthcare-related investments in the public markets. TPG, formerly known as Texas Pacific Group, submitted documents with regulators to float par Pharmaceuticals, a generic drug developer that it purchased in 2012 for US$2bn. The IPO filing outlines a US$100m offering, although the ultimate size is expected to be significantly larger. One indication is the large underwriting syndicate that features JP Morgan, Goldman Sachs, Citigroup,Morgan Stanley, Bank of America Merrill Lynch, Deutsche Bank, Evercore, RBC Capital Markets and TPG's own capital markets arm TPG Capital.