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TPG Gets Into Secondary Market With Stake in Asia-Focused NewQuest

Tuesday, June 5, 2018

(Bloomberg by Melissa Mittelman) - 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.

“We see an opportunity to back a highly experienced team with a differentiated strategy and leading position in Asia’s rapidly growing secondary market,” TPG Co-Chief Executive Officer Jon Winkelried said in an emailed statement. “The secondary market has emerged as an important tool for asset managers and investors to actively manage their portfolios.”


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