Deals
TPG Gets Into Secondary Market With Stake in Asia-Focused NewQuest
- Secondary market has grown more than 69 percent in five years
- Amount of TPG’s minority stake in NewQuest not disclosed
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TPG is getting in on the booming market for secondhand private equity interests.
The alternative asset manager is taking a minority stake in NewQuest Capital Partners, a secondaries private equity firm focused on the Asia-Pacific region. TPG is investing in Hong Kong-based NewQuest with its balance sheet -- not via a fund -- and NewQuest will continue to operate independently. TPG declined to disclose the size of the stake.