TPG Inc. reports developments as a global alternative asset management firm with investment and operational teams around the world. Founded in San Francisco in 1992, the firm invests across private equity, impact, credit, real estate, market solutions and other alternative strategies through a multi-product platform.
Recurring updates include quarterly results, capital formation, deployment and realizations, Class A common stock dividends, and board governance changes. News may also include activity from TPG-affiliated externally managed real estate finance and residential mortgage investment vehicles that operate within or alongside the firm’s real estate and credit investment platforms.
TPG RE Finance Trust (NYSE: TRTX) has appointed Doug Bouquard as its new Chief Executive Officer and elected him to the Board, effective April 25, 2022. Bouquard, who brings nearly two decades of experience in real estate credit from Goldman Sachs, will also serve as a Partner at TPG (NASDAQ: TPG). His appointment follows a successful year for TRTX, highlighted by $1.9 billion in loan originations and significant capital market transactions, including a $1.25 billion managed CRE CLO.
TPG has successfully closed its initial public offering, selling 33,900,000 shares of Class A common stock at $29.50 per share. This offering includes 28,310,194 shares from TPG and 5,589,806 shares from a strategic investor, with an additional 3,390,000 shares available for underwriters. TPG's stock is now listed on NASDAQ with the ticker symbol TPG. The firm manages $109 billion in assets globally and operates out of 12 offices.
TPG has priced its initial public offering at $29.50 per share, offering a total of 33,900,000 shares, including 28,310,194 from the company and 5,589,806 from an existing investor. The IPO will commence trading on NASDAQ under the symbol 'TPG' on January 13, 2022, with a closing date expected on January 18, 2022. Proceeds will fund partnership interests and cover offering costs, aimed at enhancing TPG's business operations and potential market expansion. No proceeds will be received from shares sold by the existing investor.
Vacasa, a leading vacation rental management platform, has launched a campaign in December to donate $100 for every new homeowner contract signed, aiming to raise up to $15,000 for Habitat for Humanity. This initiative builds on a partnership established in 2021 and supports affordable housing development. Vacasa previously donated $100,000 to Habitat earlier this year, reflecting its commitment to community involvement. The company's operations span over 35,000 homes across 400+ vacation destinations in North America, Belize, and Costa Rica.
TPG Pace Solutions Corp. (NYSE: TPGS) has announced that its shareholders approved the business combination with Vacasa Holdings LLC, with over 96% in favor. The deal is set to close on December 6, 2021, with Vacasa expected to start trading under the ticker VCSA on Nasdaq on December 7, 2021. Vacasa is outperforming its revenue and adjusted EBITDA guidance for Q4 and continues to experience strong bookings despite the Omicron variant news. The transaction is anticipated to provide Vacasa with additional capital for growth.
Dr. Seuss Enterprises has partnered with Vacasa to offer a unique holiday experience by allowing visitors to book the Grinch’s cave from Dec. 13-23. The cave, located near Boulder, Utah, reflects the whimsical world of the Grinch with a kitchen stocked with festive treats at a nightly rate of $19.57, commemorating the original book release year. Guests can enjoy Vacasa’s 24/7 support and professional cleaning services to ensure a memorable stay.
TPG Pace Solutions Corp. (NYSE: TPGS) announced a special stockholder meeting scheduled for November 30, 2021, to approve its business combination with Vacasa, a top vacation rental management platform. Shareholder approval is anticipated, with the transaction expected to close on December 6, 2021. Following the closure, the combined company will trade under the ticker symbol VCSA starting December 7, 2021. Vacasa expects to enhance investments in technology and offerings, aiming for strong growth amidst favorable booking trends.
Vacasa, the leading vacation rental management platform in North America, and TPG Pace Solutions Corp. (NYSE: TPGS) announced their participation in a fireside chat with IPO Edge. The event, featuring CEO Matt Roberts and Chairman Karl Peterson, will discuss Vacasa's business combination with TPGS, the vacation rental industry's professionalization, and the company’s recent record performance in Q3 2021. The live Q&A session is scheduled for 11:00 AM ET and aims to elaborate on Vacasa's technology-driven advantages.