Billionaire private equity mogul David Bonderman crashed a rival’s party on Tuesday — stopping an alleged sweetheart deal in the $80 billion middle-market lending sector.
In an upset, Bonderman’s TPG Global convinced shareholders of one embattled lender to reject the sale of its management arm to Jonathan Nelson’s Providence Equity Partners — even though leading shareholder proxy service ISS recommended they OK the deal.
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at [email protected].
Thank you.
The management arm, TICC Management, is a highly profitable piece of the lender, pocketing hedge fund-like fees of 2 percent of assets and 20 percent of profits. With $1 billion in loans, that comes to about $20 million a year.
READ MORE: David Bonderman
A strategic consortium of three investors has invested $169 million in south-east Asian portal PropertyGuru, a leading property marketing website in Singapore, Indonesia and Thailand, and in the second position More…
David Bonderman’s TPG Capital is in advanced talks to buy commercial property brokerage Cushman & Wakefield Inc. from Exor SpA, an Italian holding company owned by the owner of fiat, the Agnelli family. More…
Billionaire businessman and philanthropist David Bonderman, 72, has made an estimated $3 billion in private equity for rich investors. Now, according to Bloomberg, he’s offering a hedge fund for the masses. Bonderman’s More…
