Private equity firm TPG evaluating public listing - WSJ

(Reuters) -Private equity firm TPG is considering going public through an initial public offering or a blank-check merger, the Wall Street Journal reported on Wednesday, citing people familiar with the matter.

The buyout firm could be valued at about $10 billion, the report quoted some of the sources as saying, adding that the process was still in early stages and TPG may not opt to proceed with any deal.

“We evaluate various strategic alternatives from time to time. No decisions have been made and we have nothing to announce at this time,” a TPG spokesperson said in a statement.

The company has weighed an IPO before, according to media reports, to compete with publicly traded rivals including Apollo Global Management Inc and Blackstone Group Inc.

Originally known as Texas Pacific Group, TPG was founded in 1992 by former colleagues David Bonderman and Jim Coulter, and manages $91 billion in assets, according to its website.

Known for its leveraged buyouts, TPG has invested in sectors spanning from retail to healthcare and includes short-term home rental firm Airbnb Inc and ride-hailing company Uber Technology Inc as part of its portfolio.

The firm has also raised hundreds of millions of dollars through several special purpose acquisition companies (SPACs) in recent months, one of which agreed to take online learning platform Nerdy Inc public in January.

Another high-profile deal came in February when wireless carrier AT&T Inc agreed to sell about a third of its stake in its satellite TV unit to TPG, in a deal that valued the business at $16.25 billion.

The Journal report comes more than a month after TPG named Jon Winkelried as its sole chief executive officer and Coulter as executive chairman.

Reporting by Niket Nishant in Bengaluru and Chibuike Oguh in New York; Editing by Ramakrishnan M.