Buyout firm TPG Capital LP is launching a fund that will mainly take minority stakes in large publicly traded companies, Bloomberg News reported, citing people familiar with the matter.
The new Strategic Capital Fund will seek board seats and will offer advice on corporate governance and environmental issues, sources said. It will resemble the long-term investments made by Warren Buffett's Berkshire Hathaway Inc. and will not issue attack letters, launch proxy fights or demand management changes, they added.
The fundraising target could not be determined, but sources reportedly said the fund will be significant and typical investments will make up at least 5% of a company's equity.
A TPG representative did not comment, according to Bloomberg.