TPG, an alternative asset management firm, entered a definitive agreement to acquire Angelo Gordon, a $73 billion alternative investment firm focused on credit and real estate investing, in a cash and equity transaction valued at $2.7 billion.
Evolent Health entered into a definitive agreement to acquire IPG, a technology and services company providing surgical management solutions for musculoskeletal conditions. Ares Management provided a $225 million senior credit facility to support the acquisition.
TPG Growth closed its fourth fund, TPG Growth IV. The fund reached $3.7 billion in capital commitments, achieving its hard cap on LP commitments in four months.
WL Ross Holdings agreed to acquire Nexeo Solutions Holdings from TPG in a deal valued at $1.67 billion. The cash portion of the consideration has commitments from Bank of America Merrill Lynch, Jeffries Finance and Deutsche Bank.
The Wall Street Journal reported that teen retailer Forever 21 is in talks with Wells Fargo and TPG for a $150 million loan as it plans to downsize its largest stores.
Private Equity International said in the upcoming release of its annual ranking of the world’s largest private equity firms, TPG will once again claim the pole position as the industry’s largest fundraiser over the past five year.