Private equity giant TPG Capital Management LP is looking to raise $1.5 billion for an inaugural fund that will buy equity from employees, founders and early investors in private technology, media and telecommunications companies, Bloomberg News reported, citing unnamed sources.
The fund, called TPG Tech Adjacencies LP, is looking to take advantage of a growing trend of companies remaining outside the public markets for longer periods.
TPG co-founder Jim Coulter told Bloomberg in a November 2017 interview that he sees companies, particularly in the technology space, choosing to remain private longer.
A spokesman for TPG did not comment on the matter, according to the media outlet.
