Private-equity group, TPG, will sell about 4.5% of its stake to sovereign-wealth funds, Government of Singapore Investment and Kuwait Investment Authority, The Wall Street Journal reports. The financial details of the transaction have not been disclosed. The deal has valued the firm at about $11 billion. The proceeds from the stake sale is expected to be used by TPG to fund its expansion and the investments of its general partners in its own funds, adds Financial Times.
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