US private equity firm TPG is returning investors’ commitments from a $6 billion fund it raised to invest in distressed financial companies. The firm has decided to return 25% of the fund’s commitments.
TPG recently ended talks to sell a stake in itself to investors including Kuwait’s sovereign wealth fund, the California Public Employees’ Retirement System and the California State Teachers’ Retirement System as they were not happy with the valuation proposed by TPG.
D.C.